Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Werner (WERN) downgraded to Sell from Neutral at Goldman Sachs with analyst Jordan Alliger seeing underperformance potential of the shares versus upside for the rest of the covered transport universe. 2. ArcBest (ARCB) downgraded to Neutral from Buy at Goldman Sachs with analyst Jordan Alliger saying with “very difficult comps ahead” in 2022, the analyst now estimates earnings declines for the company in 2022. 3. Capital One (COF) downgraded to Neutral from Outperform at Baird with analyst David George seeing a “less than compelling valuation” with the shares up 68% year-to-date. 4. Progressive (PGR) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Michael Phillips saying people are driving again at pre-Covid levels, which means more accident frequency, while elevated car repair costs that were less of an issue during the pandemic will become more taxing on margins once again as well. 5. FIS (FIS) and Fiserv (FISV) both downgraded to Hold from Buy at Truist with analyst Andrew Jeffrey stating that there is “nothing wrong” with these companies, but he believes that the stock’s valuation will contract as investors consider the slowing Merchant segment organic revenue growth and their lack of strategic optionality. 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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