Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Petrobras (PBR) double-downgraded to Underperform from Buy at BofA, double-downgraded to Underweight from Overweight at JPMorgan, downgraded to Neutral from Buy at BTG Pactual, downgraded to Underperform from Outperform at Credit Suisse, downgraded to Sector Perform from Outperform at Scotiabank, downgraded to Underperform from Neutral at Bradesco BBI and downgraded to Hold from Buy at Grupo Santander. 2. U.S. Cellular (USM) downgraded to Neutral from Overweight at JPMorgan with analyst Philip Cusick saying with a disappointing guide for 2021, higher spending at both U.S. Cellular and Telephone & Data Systems (TDS), and reported C-Band spend of $1.46B, double an initial estimate of $750M, it is “difficult to get excited about the shares.” 3. One Stop Systems (OSS) downgraded to Market Perform from Outperform at Noble Capital with analyst Joe Gomes saying “it appears to us the stock has gotten ahead of itself.” 4. Frontline (FRO) downgraded to Hold from Buy at Jefferies with analyst Randy Giveans citing relative valuation. 5. Phillips 66 (PSX) downgraded to Neutral from Overweight at JPMorgan with analyst Phil Gresh saying he remains below consensus on earnings for 2021 and says Phillips 66’s “refining torque is lower than peers.” 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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