Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Mercer (MERC) downgraded to Neutral from Outperform at Credit Suisse with analyst Andrew Kuske saying Mercer’s sales mix looks to be somewhat advantaged on a pro-cyclical basis given significant sales exposure to the Chinese market, and while part of that reality looks to have played out with the stock’s performance and the risk-reward remains positive, it is less so than previously. 2. CVS Health (CVS) downgraded to Neutral from Buy at Guggenheim with analyst Glen Santangelo citing balanced risk/reward after the recent recovery in shares. 3. Extended Stay America (STAY) downgraded to Hold from Buy at Stifel with analyst Simon Yarmak citing an agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (BX) and Starwood Capital Group for $19.50 per share in cash. 4. Plug Power (PLUG) downgraded to Hold from Buy at Truist with analyst Tristan Richardson citing the company’s announcement of likely restatements and the disclosure of weakness in its internal controls. 5. McCormick (MKC) downgraded to Hold from Buy at Argus with analyst John Staszak saying the company is expected to face pressure as the impact of the pandemic recedes and consumers return to restaurant dining while also preparing fewer at-home meals. 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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