Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Underperform from Hold at Needham with analyst Laura Martin saying the streaming has consistently stated it will not have advertising, which will result in U.S. subscriber losses. 2. JPMorgan (JPM) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Brian Kleinhanzl saying JPMorgan has been a strong performer in 2019 and remains best in class in terms of quality, but investors should own stocks where consensus earnings estimates have the potential to rise. 3. McCormick (MKC) downgraded to Sell from Neutral at Goldman Sachs with analyst Adam Samuelson saying with the shares having substantially outperformed peers over the past two years, rallying 63% versus the peer group at 5%, and valuation at or near all-time highs on both an absolute and relative basis, McCormick's risk/reward "appears uncompelling absent a notable acceleration in underlying revenue growth which appears unlikely." 4. CSX (CSX) downgraded to Neutral from Buy at Citi with analyst Christian Wetherbee saying CSX has been a "great turnaround and earnings growth story" over the last three years, but as headwinds build in 2020, there is "real risk" to year-over-year earnings growth. 5. Ventas (VTR) downgraded to Underperform from Market Perform at Wells Fargo with analyst Todd Stender saying he appreciates the REIT's diversification across medical office, life science, and hospitals, but he expects its senior housing exposure which accounted for 57% of revenue in the most recent quarter to determine share performance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.