Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Valero (VLO) downgraded to Neutral from Buy at Goldman Sachs with analyst Neil Mehta saying he remains positive on the company’s renewable diesel business, capital allocation strategy, and management team, but now sees its valuation better reflecting Valero’s mid-cycle earnings power. 2. Nordson (NDSN) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jeffrey Hammond saying the shares have rebounded well in excess of pre-COVID-19 levels and now the valuation is “rich on multiple fronts.” 3. Alerus Financial (ALRS) downgraded to Market Perform from Outperform at Raymond James with analyst William Wallace citing relative valuation. 4. KLA Corp. (KLAC) downgraded to In Line from Outperform at Evercore ISI with analyst C.J. Muse citing valuation. 5. Chembio Diagnostics (CEMI) was downgraded to Hold from Speculative Buy at Benchmark and to Hold from Buy at Craig-Hallum and Canaccord. 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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