Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Datadog (DDOG) downgraded to Neutral from Overweight at JPMorgan with analyst Sterling Auty saying the second straight quarter of growth deceleration for a company that has been trading north of 40 times revenue is likely to cause pressure to the stock. 2. Occidental Petroleum (OXY) downgraded to Underweight from Neutral at JPMorgan with analyst Phil Gresh saying the company’s 2021 guidance of a high-$30s WTI-based free cash flow breakeven to cover $2.9B in sustaining capex was worse than expected and would imply low-$40s WTI to cover preferred dividends and capex. 3. Tilray (TLRY) and Aurora Cannabis (ACB) downgraded to Sell from Hold at Stifel. 4. Pentair (PNR) double downgraded to Underperform from Buy at BofA with analyst Andrew Obin saying Pentair has benefited from stay-at-home trends that drove very strong pool demand, but he views the “COVID pool play” as merely short-term and thinks the stock’s valuation has become “rich.” 5. Coherent (COHR) downgraded to Hold from Buy at Stifel with analyst John Marchetti saying he now expects that OLED-related upside continues to be pushed out into later quarters, making FY21 likely to be “a transition year.” 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