Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Neutral from Buy at UBS with analyst Saul Martinez citing valuation. 2. Silicon Labs (SLAB) downgraded to Neutral from Buy at Citi with analyst Atif Malik believing Silicon Labs has less takeover appeal post the divestiture. 3. CarMax (KMX) downgraded to Neutral from Outperform at Wedbush with analyst Seth Basham noting that toughening comparisons in May coupled with tight inventory have led to a deceleration from the mid-teens growth levels versus 2019 in March and April down to the +LSD levels in May-to-date, a potential sign that share gains experienced throughout a time where comparisons were easiest are slowing. 4. Agilysys (AGYS) downgraded to Hold from Buy at Maxim with analyst Allen Klee saying the quarter saw revenue missing expectations and still declining relative to last year’s levels. 5. Earthstone Energy (ESTE) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Tom Hughes believing that Q1 earnings showcased what industry wide adoption of Shale 3.0 could look like with supportive commodity prices. 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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