Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Activision Blizzard (ATVI) downgraded to Hold from Buy at Argus with analyst Joseph Bonner saying the downgrade follows a civil complaint in California last month that charged Activision with sexual discrimination, gender bias, and retaliation against employees. 2. Dollar Tree (DLTR) downgraded to Hold from Buy at Deutsche Bank with analyst Krisztina Katai saying while she remains a long-term believer in Dollar Tree’s story, she sees a more balanced risk/reward in light of renewed concerns about building inflationary pressures from both freight and wages. 3. Wynn Resorts (WYNN) downgraded to Neutral from Buy at BofA with analyst Shaun Kelley citing the recent data and the anticipated catalysts while noting that the backdrop for longer-term growth favors domestic names and digital gaming over international and Macau exposure. 4. Darden (DRI) downgraded to In Line from Outperform at Evercore ISI with analyst David Palmer believing the market largely appreciates the benefits of Darden coming out of the pandemic and cost pressures will dampen the fiscal year outlook towards the middle of the guidance range. 5. Dicerna (DRNA) downgraded to Neutral from Buy at Citi with analyst Yigal Nochomovitz saying while the PHYOX2 data demonstrate nedosiran is an active drug and a competitive agent in PH1, leading him to raise his view of the odds of success in that indication to 90% from 70%, Nochomovitz lowered his view of the odds of success in PH2 to 20% from 70% given “disappointing” PH2 data that were inconsistent with prior positive data. 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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