Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. T. Rowe Price (TROW) downgraded to Neutral from Outperform at Credit Suisse with analyst Craig Siegenthaler saying despite a “modest deceleration in relative fundamentals,” T. Rowe Price shares have maintained a “premium valuation, which has caused us to become less bullish on the stock.” 2. CNX Resources (CNX) downgraded to Hold from Buy at Truist with analyst Neal Dingmann noting that while there should be little change to the company’s two rig program with nearly 90% of his forecasted production, the stock has continued to climb for most of the year, rising 50% year-to-date relative to other gas names. 3. Apache (APA) downgraded to Hold from Buy at Truist with analyst Neal Dingmann saying Suriname could be a sizeable play for the company, but its first production is still years away. 4. Velodyne Lidar (VLDR) downgraded to Hold from Buy at Craig-Hallum with analyst Richard Shannon noting that 2021 hasn’t been the stellar year Velodyne had hoped for – from withdrawn guidance to public mentions of lost customers to a public Board spat. 5. Airbus (EADSY) downgraded to Neutral from Buy at Citi with analyst Charles Armitage saying while pre-delivery payments and production lead times leave him confident that Airbus will meet or beat its 2021 delivery guidance, he is “increasingly concerned” that the period of 2022-24 will be more challenging as airlines struggle with “simply too many planes post-Covid.” 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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