Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Discover (DFS) downgraded to Market Perform from Outperform at BMO Capital with analyst James Fotheringham citing “exclusively” valuation for the downgrade. 2. Church & Dwight (CHD) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Dara Mohsenian saying the stock looks “priced to perfection” in an environment that is not favorable to U.S. household and personal care names. 3. PPD (PPD) downgraded to Neutral from Outperform at Credit Suisse and downgraded to Neutral from Buy at Mizuho and Citi. 4. Skechers (SKX) downgraded to Neutral from Buy at Monness Crespi with analyst Jim Chartier saying while he thinks trends in the U.S. and China were likely strong in Q1, lockdowns in Europe were likely a sales headwind and near-term visibility remains limited given some EU lockdowns continuing into April and a slower than expected vaccine rollout across most of Europe. 5. Progressive (PGR) downgraded to Outperform from Strong Buy at Raymond James with analyst C. Gregory Peters saying as the benefits from Covid begin to lapse, the analyst expects accident frequency to increase and lower margins. 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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