Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. ViacomCBS (VIAC) downgraded to Underperform from Market Perform at BMO Capital with analyst Daniel Salmon saying Paramount+ will drive the subscription narrative and the new product may face short-term challenges as the pandemic wains and competitors like Peacock offer differentiated content like the Summer and Winter Olympics in the next twelve months. 2. Cabot Oil & Gas (COG) downgraded to Neutral from Overweight at Piper Sandler with analyst Kashy Harrison citing valuation and lack of company-specific catalysts beyond the recent capital return framework update for the downgrade. 3. UniFirst (UNF) downgraded to Neutral from Outperform at Baird with analyst Andrew Wittmann citing valuation for the downgrade with the shares above the price target. 4. Boston Properties (BXP) downgraded to Hold from Buy at Truist with analyst Michael Lewis saying the stock is up nearly 15% year-to-date and is outperforming its peer group. 5. U.S. Steel (X) downgraded to Hold from Buy at Argus with analyst David Coleman saying the stock has “risen strongly” since his last note in late February, topping his prior price target of $23, even though business fundamentals “remain strong.” 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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