Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Pioneer Natural (PXD) downgraded to Sector Weight at KeyBanc with analyst Leo Mariani saying its $6.4B acquisition of DoublePoint Energy includes 97,000 net acres in the Midland Basin and approximately 100,000 Boepd of production, which seems to be a very high sale price of $44,000 per undeveloped acre assuming $35,000 per flowing Boe. 2. SAIC (SAIC) downgraded to Neutral from Buy at Goldman Sachs with analyst Gavin Parsons downgraded saying the company’s’ growth is improving at a much slower pace than expected and below what its strong bookings imply. 3. Athene Holding (ATH) downgraded to Neutral from Overweight at JPMorgan with analyst Jimmy Bhullar seeing a low likelihood of a higher takeover offer. 4. A.O. Smith (AOS) downgraded to Hold from Buy at Stifel with analyst Nathan Jones thinking the risk/reward proposition for shareholders is balanced. 5. Takeda Pharmaceutical (TAK) downgraded to Hold from Buy at Jefferies with analyst Stephen Barker lowering his estimates for several candidates in Takeda’s “Wave 1” pipeline, including its lung cancer candidate and cell-therapy anti-cancer candidate, which in turn led him to lower his revenue and operating profit estimates for upcoming years. This list is just a portion of The Fly’s analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
previous post
next post