Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. DocuSign (DOCU) downgraded to Underweight from Neutral at JPMorgan, downgraded to Neutral from Buy at UBS, downgraded to Neutral from Overweight at Piper Sandler, downgraded to Neutral from Outperform at Wedbush and downgraded to Hold from Buy at Needham. 2. Novartis (NVS) downgraded to Neutral from Buy at Bryan Garnier with analyst Jeanjacques Le Fur saying the company anticipates that drugs coming from its pipeline should add about 2.5% to sales growth between now and 2026, but the drugs that were recently launched haven’t fully delivered on their promises. 3. Smith & Wesson (SWBI) downgraded to Market Perform from Outperform at Cowen with analyst Cai von Rumohr saying the company’s “big” Q2 miss, market share loss, rising channel stocks and potential reversal of “robust pricing augur very tough compares for the coming three quarters.” 4. Ollie’s Bargain Outlet (OLLI) downgraded to Underweight from Neutral at JPMorgan and downgraded to Hold from Buy at Craig-Hallum. 5. TopBuild (BLD) downgraded to Neutral from Buy at BTIG with analyst Ryan Gilbert stating that while 2021 was strong for the group as companies capitalized on a favorable supply/demand dynamic to drive outsized revenue and EBITDA growth, 2022 growth will slow in the single-family new construction. 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