Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Kratos Defense (KTOS) downgraded to Neutral from Overweight at JPMorgan with analyst Seth Seifman saying Kratos is up 21% the past three months and is one of the best performing defense stocks over the period. 2. Progressive (PGR) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Meyer Shields citing valuation. 3. Avista (AVA) downgraded to Neutral from Buy at BofA with the firm saying while the company has not found any evidence that the fires in the Pacific Northwest were caused by any deficiencies in its equipment, maintenance activities or vegetation management, it has become aware of otherwise healthy trees that broke under the extraordinary wind conditions and caused damage to its energy delivery system. 4. Eidos Therapeutics (EIDX) downgraded to Neutral from Buy at Guggenheim with analyst Etzer Darout citing the catalyst outlook for the companies relative to other companies in the firm’s coverage over the next 9-12 months. 5. CytomX Therapeutics (CTMX) downgraded to Neutral from Buy at Guggenheim with analyst Etzer Darout saying while still positive on the long-term opportunity for the company’s “conditional activation” probody technology platform, he sees a lack of upside opportunities to internally develop pipeline programs. 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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