Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Waste Management (WM) downgraded to Neutral from Outperform at Baird with analyst David Manthey saying the stock has made no progress over the past year against a broader market that has rallied more than 15% as investors have favored pro-cyclical reopening plays over more steady, quality growth names. 2. American Express (AXP) downgraded to Neutral from Outperform at Baird with analyst David George saying while he likes the franchise and find it to be a decent re-opening play, there seems to be reasonable amount of optimism in the stock despite a generally uncertain outlook. 3. Noble Midstream (NBLX) downgraded to Underweight from Neutral at JPMorgan with analyst James Kirby saying he remains cautious on the group while producers prioritize cash flow and preserve balance sheets over production growth. 4. BlackBerry (BB) downgraded to Sell from Hold at Canaccord with analyst T. Micahel Walkley believing with the volatility in the shares from a “targeted short squeeze,” the share price is above the increased price target. 5. Children’s Place (PLCE) downgraded to Neutral from Buy at Monness Crespi with analyst Jim Chartier saying while he sees “meaningful earnings power,” he believes the stock price reflects a meaningful recovery. 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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