Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Underperform from Market Perform at Wells Fargo with analyst Steven Cahall saying he analyzed Netflix’s cash estimates and has conviction in his 2019-2025 cumulative free cash flow forecast that’s $18B below consensus. 2. Prudential (PRU) downgraded to Sell from Neutral at Citi with analyst Suneet Kamath saying previously, the analyst had been concerned with “when” Prudential would get back to above-peer growth and return on equity. Now, however, he’s concerned “if” the company can get there, particularly if interest rates remain low. 3. CymaBay (CBAY) downgraded to In Line from Outperform at Evercore ISI and to Hold from Buy at Stifel. 4. ManTech (MANT) downgraded to Hold from Buy at SunTrust with analyst Tobery Sommer saying after the company’s “above-average” organic growth of 10% this year, 2020 will be more “difficult,” also noting that he sees his expected 10bp margin expansion next year as “adequately” priced in to the stock at current levels. 5. Molson Coors (TAP) downgraded to Equal Weight from Overweight at Barclays with analyst Lauren Lieberman saying after “too many disappointments for too long,” improved revenue trends will need to be apparent before investors are willing to re-engage with the story. 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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