Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Campbell Soup (CPB) downgraded to Neutral from Overweight at Piper Sandler with analyst Michael Lavery saying “broad exposure” to rising commodity prices, especially steel, is becoming a “significant risk” to Campbell’s fiscal 2022 outlook. 2. Beyond Meat (BYND) downgraded to Hold from Buy at Argus with analyst Jim Kelleher noting that the weakness is being driven by labor shortages and slowing sales to foodservice companies, while also citing his concerns that the Delta variant will have a negative impact on Foodservice sales. 3. Boston Beer (SAM) downgraded to Underperform from Market Perform at Cowen with analyst Vivien Azer saying hard seltzer’s “summer slump” continued through mid-August, with the category posting a 0.4% revenue decline. 4. CAE (CAE) downgraded to Underperform from Buy at BofA with analyst Ronald Epstein saying CAE will underperform other companies “given the inconsistency of the recovery underway.” 5. PAE (PAE) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Matthew Sharpe saying recent developments in Afghanistan are likely to negatively impact the company’s revenue and margins, and potential risk from Iraq exposure is a key debate. 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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