Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) downgraded to In Line from Outperform at Evercore ISI with analyst C.J. Muse saying he now believes “the lion’s share” of the 5G smartphone upcycle is priced into the stock price and looking ahead Muse sees sentiment on Qualcomm related to Apple turning from 5G design win to potential insourcing. 2. JinkoSolar (JKS) downgraded to Neutral from Buy at Roth Capital with analyst Philip Shen saying JinkoSolar delivered a Q4 miss and weak Q1 guidance that he looks for the stock to be weak until the outlook for volume and margins improves, adding that it is unclear when that will happen. 3. GameStop (GME) downgraded to Sell from Hold at Ascendiant with analyst Edward Woo saying the Reddit trading surge “is likely to fade as “digital threats increases.” 4. AstraZeneca (AZN) downgraded to Hold from Buy at Argus with analyst David Toung saying the rating change reflects his concerns that the company’s COVID-19 vaccine AZD1222 may not receive emergency use authorization from the FDA due to safety issues emerging in Europe. 5. Knight-Swift (KNX) downgraded to Neutral from Positive at Susquehanna with analyst Bascome Majors citing valuation for his downgrade as he believes 2021 is likely the peak of this truckload cycle and his work suggests that all trucking-related stocks eventually de-rate cyclically. 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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