Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. FibroGen (FGEN) downgraded to Hold from Buy at Stifel with analyst Annabel Samimy citing the negative outcome for the roxadustat FDA panel. 2. Helix Energy (HLX) downgraded to Underperform from Neutral at BofA with analyst Mike Sabella saying he doesn’t see upside to current consensus estimates for Helix, noting that this is the only Oilfield Services stock he can “say this for in a $70+ oil environment.” 3. MPLX (MPLX) downgraded to Peer Perform from Outperform at Wolfe Research with analyst Keith Stanley saying his thesis that the business and relationship with Marathon Petroleum (MPC) was more stable than feared, and that the stock’s discount valuation was unwarranted, has largely played out. 4. Home Bancshares (HOMB) downgraded to Market Perform from Outperform at Raymond James with analyst Michael Rose saying the analyst’s less constructive outlook on Home Bancshares shares reflects greater than previously forecast pre-tax, pre-provision income challenges moving into next year in the absence of more robust loan growth and a steeper yield curve. 5. Turquoise Hill (TRQ) downgraded to Neutral from Outperform at Macquarie with analyst Hayden Bairstow saying after the company reported “weak” Q2 production results and said a delay to the block cave undercut start date is now expected given staffing shortages significantly impacted development progress during the quarter. 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)
previous post
next post