Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Acadia (ACAD) downgraded to Hold from Buy at Stifel, downgraded to Outperform from Strong Buy at Raymond James, and downgraded to Neutral from Buy at Citi and Guggenheim. 2. Kinder Morgan (KMI) downgraded to Market Perform from Outperform at Bernstein with analyst Jean Ann Salisbury believing that the dividend is safe “in nearly any energy scenario,” but was surprised that the company’s 2021 guidance showed a year-over-year decline. 3. Stitch Fix (SFIX) downgraded to Hold from Buy at Deutsche Bank with analyst Kunal Madhukar saying he sees potential near term headwinds associated with macro trends and slower growth in revenue per client resulting from supply chain and cycle time challenges. 4. Tanger Factory (SKT) downgraded to Sell from Neutral at Goldman Sachs with analyst Caitlin Burrows saying Tanger shares are up 159% since November 1, 2020 but its fundamentals are weaker today than pre-Covid. 5. Evertec (EVTC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst James Faucette saying the stock is likely to be a relative underperformer versus its Payments peers given Evertec’s long-term growth is still contingent on a Puerto Rico recovery and over 80% of Evertec’s revenues come from Puerto Rico. 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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