Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Abbott (ABT) downgraded to Sell from Neutral at Goldman Sachs with analyst Amit Hazan saying the stock has overreacted to the company’s COVID testing opportunity. 2. Allogene Therapeutics (ALLO) downgraded to Market Perform at Raymond James with analyst Dane Leone saying the ASCO 2020 dataset for ALLO-501 has validated his investment hypothesis and the stock price now exceeds the prior $40 price target. 3. Vail Resorts (MTN) downgraded to Hold from Buy at Deutsche Bank with analyst Chris Woronka saying he believes the “recovery trade” in cyclicals like Vail may be close to stalling and sees a balanced risk/reward profile with the shares near the price target. 4. Canopy Growth (CGC) was downgraded to Sell from Buy at Stifel, to Sell from Neutral at Bryan Garnier and PI Financial, to Neutral from Outperformer at CIBC, and to Market Perform from Outperform at BMO Capital. 5. AerCap (AER) downgraded to Neutral from Buy at BofA with analyst Ronald Epstein saying the stock’s material underperformance since early March has been driven by concerns and uncertainties over the future of air travel post-pandemic and the company’s older fleet may be under pressure in the current environment. 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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