Fly Intel: Top five analyst downgrades

Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Underweight from Neutral at Atlantic Equities with analyst James Cordwell telling investors that the stock’s 50% relative outperformance over the last 12 months has been driven “entirely” by multiple expansion. 2. Freeport McMoRan (FCX) downgraded to Underperform from Neutral at Credit Suisse with analyst Curt Woodworth stating the company “lacks valuation support” given mid-cycle EBITDA and the copper production reset “sharply lower” in 2023. 3. Sysco (SYY) downgraded to Neutral from Overweight at Piper Sandler with analyst Nicole Miller Regan citing Monday’s “unanticipated” CEO transition announcement. 4. Take-Two (TTWO) downgraded to Equal Weight from Overweight at Stephens with analyst Jeff Cohen stating that it is not clear that they will have a blockbuster non-sports title within the company’s currently announced FY21 release slate. 5. Delphi Technologies (DLPH) downgraded to Hold from Buy at Deutsche Bank with analyst Emmanuel Rosner saying hew worries that industry demand and powertrain mix in Europe could be a large source of uncertainty and production volatility in 2020. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(https://thefly.com/streetResearch.php)