Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. UnitedHealth (UNH) downgraded to Hold from Buy at Argus with analyst David Toung saying the company is set to face pressure from the rising medical utilization and higher costs for COVID-19 treatments, vaccines and testing. 2. Las Vegas Sands (LVS) and Wynn Resorts (WYNN) both downgraded to Hold from Buy at Union Gaming. 3. Concho Resources (CXO) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Nitin Kumar saying that updating his M&A Evaluation Model for the announced deal terms and anticipated synergies, Kumar estimates the deal is about 50% accretive to ConocoPhillips (COP) consensus 2021-2023 free cash flow per share. 4. Mednax (MD) downgraded to Sell from Hold at Deutsche Bank with analyst Pito Chickering saying he is “constructive” on Mednax’s ongoing strategic transformation but believes elements out of its control will pressure its organic growth targets and constrain its ability to generate operating leverage for targeted margin expansion. 5. Clear Channel Outdoor (CCO) downgraded to Underweight from Neutral at JPMorgan with analyst Alexia Quadrani saying while the stock has underperformed year-to-date, the analyst does not expect recent trends to substantially improve. 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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