Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Unilever (UN, UL) downgraded to Sell from Neutral at UBS with analyst Guillaume Delmas saying the company’s unification plan is a potential first step toward reshuffling its consumer goods portfolio, but it is “unlikely to yield significant changes over the next 12 months.” 2. Pilgrim’s Pride (PPC) was downgraded to Market Perform from Outperform at BMO Capital and to Equal Weight from Overweight at Barclays. 3. Beyond Meat (BYND) double downgraded to Underweight from Overweight at Barclays with analyst Benjamin Theurer saying near-to medium-term headwinds related to foodservice channels being closed for the COVID-19 pandemic are not reflected in estimates. 4. Allegiant Travel (ALGT) downgraded to Neutral from Buy at Goldman Sachs with analyst Catherine O’Brien saying she continues to think Allegiant’s “more efficient “fleet, coupled with the its domestic-oriented network will drive a relatively faster recovery to pre-COVID-19 profitability; however, the stock’s risk/reward no longer warrants a Buy rating. 5. Spotify (SPOT) downgraded to Sell from Neutral at Guggenheim with analyst Michael Morris saying while he thinks Spotify is “doing many great things,” with its investment in podcast content strengthening its streaming audio leadership position, he also thinks that the market is now pricing shares for blue-sky growth and potential podcast dominance. 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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