Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. BioXcel Therapeutics (BTAI) double downgraded to Sell from Buy at Goldman Sachs with analyst Corinne Jenkins saying consensus estimates do not reflect the complexity of new drug launches in the hospital setting. 2. EVgo (EVGO) downgraded to Neutral from Outperform at Credit Suisse with analyst Maheep Mandloi citing valuation for the downgrade. 3. Petco (WOOF) downgraded to Hold from Buy at Jefferies with analyst Stephanie Wissink saying comparable store sales growth normalization in the quarters ahead might be underestimated by the current consensus view, while she is reassessing her vet assumptions given challenging labor conditions. 4. Wayfair (W) downgraded to Hold from Buy at Argus with analyst John Staszak saying while the company should benefit over time as more consumers purchase home goods online, its revenue growth rate has now declined for two straight quarters and it is unclear when it will resume, the analyst tells investors in a research note. 5. Shopify (SHOP) downgraded to Hold from Buy at Loop Capital with analyst Anthony Chukumba saying the company remains one of the most compelling long-term fundamental stories in his coverage universe in our opinion, and he continue to believe that it is increasingly cementing its position as the dominant online “retail operating system,” but with the stock trading at 34.1-times his expected 2022 revenue, the current valuation levels are now line with his bullish outlook. 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