Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Pentair (PNR) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Joshua Pokrzywinski saying he sees fewer upside surprises from its residential exposure from here or earnings revisions that would justify a premium valuation. 2. Workhorse Group (WKHS) downgraded to Market Perform from Outperform at Cowen with analyst Jeffrey Osborne saying the shares are fairly valued following the recent rally which is not supported by fundamentals or company specific catalysts. 3. Alliance Data (ADS) downgraded to Neutral from Buy at BofA with analyst Mihir Bhatia citing both the stock’s “big run” with shares up 66% year-to-date and his view that Alliance has few near-term catalysts. 4. Grocery Outlet (GO) downgraded to Hold from Buy at Jefferies with analyst Randal Konik saying while the company’s long-term prospects remain “compelling,” the grocery industry backdrop is becoming more difficult and he projects inflationary cost pressures across wages, freight, and product will reduce Grocery Outlet’s EPS growth rate, weighing on the multiple. 5. Associated Banc-Corp (ASB) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Jared Shaw telling investors in a research note that the near-term credit catalyst has played out and loan growth will be challenging in the near-term. 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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