Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Neutral from Buy at MoffettNathanson with analyst Michael Nathanson saying Disney has “advantaged assets to win” in the new world created by COVID-19, but the uncertainty of the present situation creates “significant and unrivaled earnings risk for the foreseeable future.” 2. Honeywell (HON) downgraded to Hold from Buy at Deutsche Bank with analyst Nicole DeBlase saying Honeywell has historically outperformed during downturns, but this has not been the case in a significant way this time around. 3. Chevron (CVX) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Neil Mehta citing the stock’s recent outperformance relative to the U.S. Majors for the removal from the firm’s Conviction List. 4. Cognizant (CTSH) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying COVID-19 is causing new project awards to be delayed, incremental pricing pressure on existing work, and margin pressures due to revenue variances. 5. LyondellBasell (LYB) and Dow Inc. (DOW) were downgraded to Underperform from Buy at BofA. 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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