Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Pacific Biosciences (PACB) downgraded to Neutral from Overweight at Piper Sandler with analyst Steven Mah saying he continues to believe in Pacific’s “highly accurate” long-read sequencing technology and the commercial expertise that Christian Henry brings as new CEO, but he’s downgrading the shares based on the lack of visibility on future COVID-19 related lab closures and the stock’s valuation. 2. SolarEdge (SEDG) downgraded to Underperform from Market Perform at Northland and downgraded to Perform from Outperform at Oppenheimer. 3. Hess Corp. (HES) downgraded to Hold from Buy at Argus with analyst Bill Selesky saying he is “concerned” with the company’s continued losses and rising debt to capital ratio, which rose to 56.5% from the past year’s level of 37%. 4. IPG Photonics (IPGP) downgraded to Market Perform from Outperform at Raymond James with analyst Brian Gesuale saying he thinks the alpha has largely been captured at a $190 stock price and believes sustainable share price north of $210 carries material multiple compression risk, overlooks the competitive environment in China and requires significant earnings growth that would eclipse the generational earnings peak of 2018. 5. NexPoint Residential (NXRT) downgraded to Outperform from Strong Buy at Raymond James with analyst Buck Horne citing valuation. 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