Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Allogene Therapeutics (ALLO) downgraded to Hold from Buy at Stifel with analyst Benjamin Burnett saying though the stock is now “pricing in substantial risk. 2. Sirius XM (SIRI) downgraded to Neutral from Overweight at JPMorgan with analyst Sebastiano Petti citing “softening” annual car sales and rising capital expenditures for the downgrade following management comments at recent industry conferences. 3. J.B. Hunt (JBHT) downgraded to Underweight from Neutral at JPMorgan with analyst Brian Ossenbeck “turning more cautious” on J.B. Hunt saying the stock is highly correlated with spot truckload rate momentum, which turned negative in early July. 4. Lowe’s (LOW) and Home Depot (HD) downgraded to Hold from Buy at Loop Capital with analyst Laura Champine saying supply chain issues represent a “significant risk” in the sector and “persistent” inflation may push the Fed toward an interest rate hike within her 12-month time horizon. 5. Charter (CHTR) downgraded to Underweight from Overweight at Wells Fargo with analyst Steven Cahall saying he is now taking a more bearish stance on the Cable sector’s outlook and thinks the sector faces more competition for broadband subscribers industry-wide as penetration is now high and Telco’s fiber builds will result in more passings and more competition for market share. 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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