Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. SelectQuote (SLQT) downgraded to Sector Perform from Outperform at RBC Capital with analyst Frank Morgan saying the company’s earnings not only missed guidance, but its fiscal 2022 forecast is 17% below consensus due to a more conservative view on policyholder churn. 2.Nordstrom (JWN) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Kimberly Greenberger saying revenue recovery appears protracted, cost inflation is offsetting prior cost curtailment initiatives and long-term earnings growth remains elusive. 3. Pentair (PNR) double downgraded to Underweight from Overweight at JPMorgan with analyst Stephen Tusa saying the stock’s valuation now more than discounts most of the upside from a better than expected outcome on earnings for the past two years, largely on the back of Covid benefits in Aquatics. 4. Doximity (DOCS) downgraded to Neutral from Overweight at JPMorgan with analyst Jackson Ader saying following the rally since the June initial public offering, Doximity’s valuation now stands at north of 50 times estimated 2022 sales. 5. Yum! Brands (YUM) downgraded to Perform from Outperform at Oppenheimer with analyst Brian Bittner believing the search for attractive risk-reward over next 18 months has shifted to Restaurant Brands (QSR) from Yum! Brands. 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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