Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Chevron (CVX) was downgraded to Hold from Buy at Societe Generale and to Market Perform on valuation at BMO Capital. 2. Ulta Beauty (ULTA) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying her firm’s Fall teen survey indicated spending declines in color cosmetics among all female teens. 3. Chipotle (CMG) downgraded to Underperform from Neutral at BofA/Merrill with analyst Gregory Francort saying he believes Chipotle has down a “very good job” managing labor costs but expects further gains to be difficult, combined with the tough sales backdrop, will limit further margin expansion. 4. Roche (RHHBY) downgraded to Neutral from Buy at Citi with analyst Andrew Baum saying Roche’s rate of progress in the immuno-oncology field have underperformed. 5. Blackhawk (HAWK) downgraded to Neutral from Buy at Mizuho. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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