Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Facebook (FB) downgraded to Neutral from Buy at Citi with analyst Jason Bazinet saying among the top 10 Internet ad firms, in absolute dollar terms, sell-side analysts expect two-times the annual growth from 2021 to 2025 versus 2018 to 2020. Second, many investors believe ad intensity per dollar of economic activity is rising, while Bazinet sees “little evidence of this.” Third, even if the sell-side estimates are right, growth will likely decelerate after Q2 of 2021 due to tougher comps, says the analyst. 2. Oracle (ORCL) downgraded to Equal Weight from Overweight at Barclays with analyst Raimo Lenschow saying the recent strong performance of the shares means less upside going forward. 3. Intel (INTC) downgraded to Underweight from Neutral at Atlantic Equities with analyst Ianjit Bhatti saying IDM 2.0 does not provide an answer to market share losses to AMD (AMD). 4. Cardinal Health (CAH) downgraded to Neutral from Outperform at Baird with analyst Eric Coldwell dciting its chronic underperformance in the Pharmaceutical and Medical segments with low transparency that may take years to re-build investor confidence. Alphabet Class A (GOOGL, GOOG) downgraded to Neutral from Buy at Citi with analyst Jason Bazinet saying he’s now not recommending any large cap ad centric internet stocks except Roku (ROKU). 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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