Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Airbnb (ABNB) double-downgraded to Underperform from Buy at Gordon Haskett with analyst Robert Mollins saying the stock’s valuation is “more than stretched” when compared to other online travel agencies like Booking Holdings (BKNG) and Expedia (EXPE). 2. Hanesbrands (HBI) downgraded to Hold from Buy at Stifel with analyst Jim Duffy saying that he remains constructive on the company’s long-term opportunity, but also sees it as “prudent” to take a wait-and-see approach on the stock heading into 2021. 3. DoorDash (DASH) downgraded to Neutral from Buy at DA Davidson with analyst Tom White noting that the company deserves a premium multiple thanks to its “category leading” scale, superior growth and market share gains, as well as its profit trends, but sees its current valuation offering “little room” for performance hiccups in its core business over the next year, particularly given the increasing regulation and the “elevated competition” in Food Delivery. 4. BMO Capital analyst Daniel Salmon downgraded Disney (DIS) to Market Perform from Outperform saying with the recent multiple expansion for the initial vaccine news and Thursday’s direct-to-consumer investor day, stepping to the sidelines is more appropriate. 5. Compass Minerals (CMP) downgraded to Neutral from Buy at Monness Crespi with analyst Chris Shaw saying the “weak” start to the winter season portends another year of lower prices and tough volumes ahead. 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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