Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Shopify (SHOP) was downgraded to Neutral from Buy at DA Davidson and to Equal Weight from Overweight at Wells Fargo. 2. Lyft (LYFT) downgraded to Neutral from Overweight at Piper Sandler with analyst Alexander Potter saying due to the COVID-19 pandemic, the analyst has “less faith in the attractiveness of the ride-hailing theme” over the next year and beyond. 3. Simon Property (SPG) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Tammi Fique saying Mall REITs are facing one of the most difficult periods in their history due to the pandemic as many stores remain closed and some may never re-open. 4. Ralph Lauren (RL) downgraded to Market Perform from Outperform at Cowen with analyst John Kernan saying the company remains one of the strongest brands in the industry but second half bookings are expected to be down -30-50% in the second half of the year. 5. Community Healthcare (CHCT) downgraded to Neutral from Buy at B. Riley FBR with analyst Bryan Maher citing valuation. This list is just a portion of The Fly’s analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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