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Fly News Breaks for February 7, 2020
DPZ, MCK, CBT, SYNA, TWTR
Feb 7, 2020 | 10:05 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Twitter (TWTR) upgraded to Positive from Neutral at Susquehanna. 2. Synaptics (SYNA) upgraded to Neutral from Underweight at JPMorgan with analyst Paul Chung saying the company posted fiscal Q2 results well above expectations, with gross and operating margins hitting multi-year highs. 3. Cabot (CBT) upgraded to Buy from Neutral at UBS with analyst Joshua Spector saying the recent share weakness reflects temporary China risk from coronavirus. 4. McKesson (MCK) upgraded to Outperform from Neutral at Baird with analyst Eric Coldwell saying he acknowledged his upgrade is something of a contrarian call on an inflection in U.S. Distribution macro, company-specific self-help initiatives, and low valuation. He said McKesson has the highest return to his price target but has a higher risk profile. Coldwell raised his price target to $194 from $164 on McKesson shares. 5. Domino's Pizza (DPZ) upgraded to Buy from Neutral at Goldman Sachs with analyst Katherine Fogertey saying her analysis of third party delivery headwinds and franchisee economics suggest a "much clearer" path for the company to return to a stronger same-store-sales comp trajectory and maintain its 6%-8% unit growth guidance in 2020. 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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