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Fly News Breaks for September 20, 2019
Sep 20, 2019 | 10:11 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Suzano (SUZ) downgraded to Neutral from Buy at Goldman Sachs with analyst Thiago Oje turning more cautious on the Latin America Pulp & Paper sector citing weaker demand stemming from U.S.-China trade tensions, "unprecedented" inventory levels that are 60% above historical averages, and "deteriorating" long-term outlooks after new capacity announcements. 2. Synovus (SNV) downgraded to In Line from Outperform at Evercore ISI. 3. Xilinx (XLNX) downgraded to Neutral from Buy at BofA/Merrill with analyst Vivek Arya citing the "sudden" departure of its CFO Lorenzo Flores last night for another firm. 4. Cosan (CZZ) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Javier Martinez de Olcoz Cerdan saying while he still sees a recovery in sugar prices ahead, Indian sugar may continue to pressure prices in the coming months. 5. Liberty Global (LBTYA) double downgraded to Sell from Buy at Citi with analyst Nayab Amjad saying the stock has outperformed since January on hopes of completion of the Swiss unit disposal, the closing of the Vodafone deal, and the recent tender offer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.