Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Micron (MU) downgraded to Sell from Hold at Lynx with analysts KC Rajkumar and Jahanara Nissar believing the “nascent memory cycle stands in danger of running out of steam a couple of quarters earlier than we had envisaged” and now believe Micron could see revenue sequentially down as early as February of 2022, they tells investors. 2. Northern Trust (NTRS) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Michael Brown expecting the “receive positive news on the capital return front,” and longer term the “considerable rate headwinds should flip to meaningful tailwinds” for the trust banks. 3. Voya Financial (VOYA) downgraded to Neutral from Buy at Citi with analyst Suneet Kamath saying the catalysts that helped in the shares, like dispositions, expense reduction programs and aggressive buybacks, will not have the same degree of influence going forward. 4. Honest Company (HNST) downgraded to Neutral from Buy at Guggenheim with analyst Laurent Grandet downgraded Honest Company (HNST) to Neutral from Buy without a price target. The company reported “solid” Q1 results, says the analyst, who remains positive on its underlying fundamental outlook. However, Grandet sees a more balanced risk/reward at current valuation levels and a “lack of an apparent catalyst” to materially increase sales expectations.5. CureVac (CVAC) downgraded to Neutral from Buy at BofA with analyst Geoff Meacham citing the disappointing interim analysis miss reported for the phase 2b/3 study of CVnCoV – the company’s mRNA COVID-19 vaccine candidate – removing the program’s value from his model after its reported 47% efficacy. 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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