Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Hold from Buy at China Renaissance with analyst Carson Ng citing valuation. 2. CenterPoint Energy (CNP) downgraded to Market Perform from Outperform at Wells Fargo with analyst Sarah Akers saying she now now assumes the company will need $2.5B in equity funding in reaction to negative developments including, most recently, the Public Utilities Commission of Texas’ cost of capital decision. 3. CymaBay (CBAY) was downgraded to Market Perform from Strong Buy at Raymond James, to Neutral from Overweight at Cantor Fitzgerald, as well as to Neutral from Buy at H.C. Wainwright and Roth Capital. 4. Molson Coors (TAP) downgraded to Market Perform from Outperform at BMO Capital with analyst Amit Sharma saying Molson’s “persistently low” valuation and high free cash flow yield has failed to entice investors as its “structurally compromised” sales growth has been “too high a hurdle,” even for deep-value investors. 5. Comerica (CMA) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Ken Zerbe saying he sees “far more” net interest margin compression at Comerica by the end of 2020 than the median he expects at its peers. 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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