Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Progressive (PGR) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Yaron Kinar saying shares remain undervalued, but 2020 and 2021 consensus estimates will come down as Progressive decides to prioritize sales growth over sustaining core underwriting margins that are consistent with 2019. 2. Sherwin-Williams (SHW) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Robert Koort citing valuation. 3. Anchiano Therapeutics (ANCN) was downgraded to Neutral from Outperform at Baird and Oppenheimer and to Neutral from Buy at Ladenburg. 4. Workday (WDAY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Keith Weiss saying while the company said its pipeline into FY21 remains strong, CEO Aneel Bhusri noted they have “definitely” seen some deals get pushed out and deferred. 5. Amarin (AMRN) downgraded to Neutral from Buy at Citi with analyst Joel Beatty saying his new price target reflects a valuation of $11.2B when assuming a diluted share count of 413M. 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)
previous post
next post