Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Carvana (CVNA) downgraded to Neutral from Overweight at JPMorgan with analyst Rajat Gupta saying the recent rebound in the shares coupled with a “meaningful pull back” in brick and mortar auto retailers makes the stock’s near-term relative risk/reward less favorable. 2. RPM (RPM) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying the company is likely to contend with raw material, packaging, and logistics cost inflation in the upcoming two quarters, pressuring its gross margins. 3. LPL Financial (LPLA) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Alexander Blostein saying risks to spreads paid by the banks for sweep deposits “amid significant liquidity in the system” pose risks to 2022 earnings estimates. 4. SmileDirectClub (SDC) downgraded to Hold from Buy at Loop Capital with analyst Laura Champine citing an inflationary environment for “everything, from shipping to digital marketing,” adding that the management will focus more on profitability than sales growth due to pressure on gross margins. 5. Plug Power (PLUG) downgraded to Hold from Buy at Canaccord with analyst Jed Dorsheimer saying post the accounting restatements, Plug Power is transitioning to more of an operational phase and will need to demonstrate profitability improvements to justify its “healthy valuation.” 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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