On The Fly: Top five analyst downgrades - InvestingChannel

On The Fly: Top five analyst downgrades

Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. General Electric (GE) was downgraded to Neutral from Buy at UBS and to Underweight from Equal Weight at Morgan Stanley. 2. SunTrust (STI) was downgraded to Hold from Buy at Sandler O’Neill and to Market Perform from Outperform at Raymond James. 3. Celgene (CELG) assumed with a Neutral from Overweight at Piper Jaffray with analyst Christopher Raymond saying that after Friday’s failure of GED-301, investors are now “far less likely to assign the benefit of doubt to other pipeline investments.” 4. Buckingham downgraded Foot Locker (FL) to Neutral from Buy and slashed its price target to $29 from $47 telling investor’s major catalysts are several quarters away and risk/reward is mostly balanced. 5. Biogen (BIIB) downgraded to Neutral from Buy at Citi with analyst Robyn Karnauskas saying her Spinraza thesis has largely played out while spinal muscular atrophy competition and multiple sclerosis pricing moves her to the sidelines. 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)