Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Cinemark (CNK) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying he is “increasingly concerned” around the potential for a second half of 2020 rebound as well as the company’s exposure to Brazil as the COVID-19 pandemic worsens in that country. 2. Square (SQ) was downgraded to Equal Weight from Overweight at Stephens and to Underperform from Buy at BofA. 3. Capri Holdings (CPRI) downgraded to Neutral from Overweight at Piper Sandler with analyst Erinn Murphy saying her former thesis former thesis of accelerating growth for Versace and Jimmy Choo will take longer to materialize given the “unprecedented macro backdrop.” 4. ADP (ADP) downgraded to Underperform from Neutral at BofA with analyst Jason Kupferberg saying while various U.S. states are undergoing a gradual economic re-opening among bricks-and-mortar merchants, the trough in churn among small and mid-sized businesses has yet to take place. 5. Workday (WDAY) downgraded to Neutral from Buy at Cleveland Research. 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