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Fly News Breaks for February 5, 2020
SHW, GILD, STX, ALB, TSLA
Feb 5, 2020 | 10:01 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Hold from Buy at Canaccord with analyst Jed Dorsheimer saying he sees a "balanced" risk/reward for investors to lock in profits following the recent rally in the shares. Further, China's coronavirus is a "clear headwind" risk to Tesla's Shanghai facility, suggesting a more "pragmatic position" is warranted. 2. Albemarle (ALB) downgraded to Neutral from Outperform at Baird with analyst Ben Kallo saying Albemarle has traded higher in conjunction with Tesla's stock move and a renewed investor interest in electric vehicles. While the analyst remains constructive on long-term trends, he thinks Albemarle's near-term risk/reward is now more balanced. Further, there is some risk to the company's Catalysts and Bromine segments related to the coronavirus outbreak and slower end-market demand. He believes Albemarle shares are fairly valued. 3. Seagate (STX) downgraded to Sell from Hold at Summit Insights. 4. Gilead (GILD) downgraded to Outperform from Strong Buy at Raymond James with analyst Steven Seedhouse saying that while he believes shares remain undervalued and that the stock is likely to outperform in the next 12-18 months, his current model suggests flattish revenue for the next several years as growth opportunities are offset by Truvada LOE in September 2020.. 5. Sherwin-Williams (SHW) downgraded to Neutral from Positive at Susquehanna with analyst Donald Carson saying he lowered his estimates in conjunction with the downgrade after incorporating company guidance. Carson lowered his price target to $620 from $680 on Sherwin-Williams shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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