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Fly News Breaks for February 27, 2018
NGVT, AKCA, CRZO, NTRI, BMI
Feb 27, 2018 | 10:23 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nutrisystem (NTRI) downgraded to Market Perform from Outperform at Barrington by analyst Matthew Gall following last night's Q4 results. The company's flattish guidance for 2018, compared to double-digit growth expectations on sales and earnings, will likely put a ceiling on the stock for the next couple of quarters, Galls said. 2018 may well prove to be a reset year for Nutrisystem, the analyst added. 2. Akcea Therapeutics (AKCA) downgraded to Market Perform from Outperform at Wells Fargo by analyst Jim Birchenough. With a new proposal to reduce volanesorsen dose to biweekly in lighter patients to mitigate risk of severe platelet reduction, the analyst sees increased regulatory risk on questions of adequacy of the lower dose in reducing triglycerides to key threshold levels and in reducing risk of pancreatitis. Shares were also downgraded to Market Perform from Outperform at Cowen and to Hold from Buy at Stifel. Stifel analyst Stephen Willey said that the FDA's upcoming Advisory Committee meeting on May 10 is a potential source of volatility he would prefer to watch from the sidelines. 3. Badger Meter (BMI) downgraded to Sell from Hold at Canaccord Genuity by analyst Chip Moore. With "lackluster" organic growth trends in the company's core utility water metering market and shares trading near all-time peak valuation ranges, the stock has downside risk, Moore said. He believes competitive pressures could be intensifying and that near-term margins are unlikely to move materially higher. 4. Carrizo Oil & Gas (CRZO) downgraded to Sector Weight from Overweight at KeyBanc by analyst Chris Stevens, who said the company in Q4 missed on oil production while capex was high. Further, Q1 production was guided "shockingly low," Stevens said. The Delaware appears a "more challenging place to operate" than expected and the Eagle Ford is "showing signs of fatigue," the analyst contended. Johnson Rice also downgraded shares to Accumulate from Buy. 5. Ingevity (NGVT) downgraded to Hold from Buy at Loop Capital by analyst Chris Kapsch, who cited a more balanced risk/reward at current share levels. The analyst still likes the fundamental story, and raised his price target for the shares to $83 from $80, but cited valuation for the downgrade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
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