Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Jazz Pharmaceuticals (JAZZ) downgraded to Sell from Neutral at Goldman Sachs with analyst Graig Suvannavejh saying he sees the company’s growth outlook as “challenged” and 6% downside risk in the shares. 2. Macerich (MAC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Richard Hill saying he is shifting to an analysis of free cash flow as a better representation of the financial health of a company in the current environment of “rent deferral-driven deviations” in funds from operations for retail REITs. 3. Kroger (KR) downgraded to Neutral from Buy at BofA with analyst Robert Ohmes saying he has a more muted outlook for the company for the second half of FY21 and FY22 even though its multiple has been pushed out to 14-times expected earnings vs. 11-times average over the past two years. 4. Kala Pharmaceuticals (KALA) downgraded to Hold from Buy at Jefferies with analyst Biren Amin saying while he expects FDA approval for Eysuvis by its October 30 PDUFA date, the eye care professionals surveyed estimated Eysuvis could capture 12% market share at launch in year one and 13% in year two, assuming a price of $280/bottle. 5. MGM Resorts (MGM) downgraded to Sell from Neutral at Goldman Sachs with analyst Stephen Grambling saying a slower recovery in Las Vegas will drive downside to consensus estimates and fundamental underperformance relative to peers. 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)
previous post
next post