Fly Intel: Top five analyst downgrades

Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Alphabet (GOOG) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying he believes expected improvement in Alphabet’s growth is fairly priced in at current levels and views upside from here as limited compared to mega cap tech names such as Amazon (AMZN), Alibaba (BABA) and Facebook (FB). 2. Kellogg (K) downgraded to Neutral from Buy at Goldman Sachs with analyst Jason English saying while the company reported “strong” Q2 results and raised its full-year outlook to a level he believes is still conservative, but the improvement in its fundamentals amid the COVID-19 pandemic now appears to be “more fully reflected” in valuation. 3. Pros Holdings (PRO) downgraded to Underweight from Neutral at JPMorgan with analyst Jackson Ader saying that hearing the company expects net-new travel segment bookings to be down 90% was “jarring.” 4. Dropbox (DBX) downgraded to Neutral from Buy at BofA with analyst Ryan Gee saying the benefits of the Dropbox app launch last year may require more time to play out. 5. Resolute Forest (RFP) was downgraded to Neutral from Outperformer at CIBC and to Underperform from Sector Perform at Scotiabank. 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)