Equity Research Analyst Downgrades for May 16 (ACM, ADDYY, BAND, BHOOY, BNOX, CIX, CIXX, CME, CNO, DCOM)


Equity research analyst downgrades for Monday, May 16:

AECOM (NYSE:ACM) was downgraded by StockNews.com analysts from a buy rating to a hold rating.

adidas (OTCMKTS:ADDYY) was downgraded by BNP Paribas analysts from an outperform rating to a neutral rating.

adidas (OTCMKTS:ADDYY) was downgraded by Exane BNP Paribas analysts from an outperformance rating to a neutral rating.

Bandwidth (NASDAQ: BAND) was downgraded by Robert W. Baird analysts from an Outperform rating to a Neutral rating. The company currently has a target price of $25.00 on the stock, down from its previous target price of $38.00.

boohoo group (OTCMKTS:BHOOY) was downgraded by analysts at Credit Suisse Group AG from an outperform rating to a neutral rating.

Bionomics (NASDAQ:BNOX) was downgraded by Evercore ISI analysts to an outperform rating.

CI Financial (TSE: CIX) was lowered by analysts at the Royal Bank of Canada to a holding rating. They currently have a target price of C$19.00 on the stock.

CI Financial (NYSE:CIXX) was downgraded by Royal Bank of Canada analysts from an outperform rating to a sector performance rating.

CME Group (NASDAQ:CME) was downgraded by Argus analysts from a buy rating to a hold rating. The company currently has a price target of $230.00 on the stock.

CNO Financial Group (NYSE: CNO) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. They currently have a price target of $17.00 on the stock. According to Zacks, “CNO Financial’s first quarter results miss estimates. Company revenue is expected to remain under pressure due to lower general account assets. A lower ROE implies an inefficient use of shareholder funds. Balance sheet weakness, exemplified by unrestricted cash and cash equivalents remaining significantly below investment borrowings, remains a concern. The company expects free cash flow to decline in 2022 from the 2021 level due to lower alternative investment returns and capital depletion from new business. The company’s shares have underperformed its industry in a year. Nonetheless, its cost-cutting initiatives should improve its earnings profile. It has invested significantly in technology to improve agent productivity, as well as in sales and advertising, which will likely improve prospect productivity. »

Dime Community Bancshares (NASDAQ:DCOM) was downgraded by Stephens analysts from an overweight rating to an equal weight rating. Stephens currently has a price target of $34.50 on the stock, down from its previous price target of $36.00.

Doma (NYSE: DOMA) was downgraded by Oppenheimer Holdings Inc. analysts from an outperform rating to a market performance rating.

FirstEnergy (NYSE:FE) was downgraded by analysts at Bank of America Co. from a buy rating to a neutral rating. The company currently has a price target of $44.00 on the stock, down from its previous price target of $52.00.

FIGURES (NYSE:FIGS) was downgraded by analysts at FIG Partners from a Buy rating to a Neutral rating. The company currently has a price target of $12.00 on the stock, down from its previous price target of $32.00.

FIGURES (NYSE:FIGS) was downgraded by analysts at Bank of America Co. from a buy rating to a neutral rating. They currently have a price target of $12.00 on the stock, down from their previous price target of $32.00.

Foot Locker (NYSE:FL) was downgraded by analysts at OTR Global to a positive rating.

InMed Pharmaceuticals (NASDAQ:INM) was downgraded by Roth Capital analysts from a buy rating to a neutral rating.

InnovAge (OTCMKTS: INNV) was downgraded by Robert W. Baird analysts from an Outperform rating to a Neutral rating. Robert W. Baird currently has a price target of $5.00 on the stock, down from his previous price target of $6.00.

Isuzu Engines (OTCMKTS: ISUZY) was downgraded by CLSA analysts from a buy rating to an underperform rating.

Kainos Group (OTCMKTS: KNNNF) was downgraded by analysts at Berenberg Bank from a buy rating to a hold rating.

Kintara Therapeutics (NASDAQ:KTRA) was downgraded by analysts at Dawson James from a buy rating to a neutral rating.

ManTech International (NASDAQ:MANT) was downgraded by analysts at William Blair from an outperform rating to a market performance rating.

Compagnie Générale des Etablissements Michelin Partnership limited by shares (OTCMKTS:MGDDY) was downgraded by analysts at JPMorgan Chase & Co. from an overweight rating to a neutral rating.

Malaysian Bank Berhad (OTCMKTS:MLYBY) was downgraded by analysts at JPMorgan Chase & Co. from a neutral rating to an underweight rating.

Marathon Petroleum (NYSE: MPC) was downgraded by analysts at The Goldman Sachs Group, Inc. from a buy rating to a neutral rating. They currently have a target price of $102.00 on the stock, up from their previous target price of $90.00.

Nielsen (NYSE:NLSN) was downgraded by BMO Capital Markets analysts from an outperform rating to a market return rating. BMO Capital Markets currently has a price target of $28.00 on the stock, down from its previous price target of $34.00.

American Plains Pipeline (NYSE: PAA) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. Zacks Investment Research currently has a target price of $11.00 on the stock. According to Zacks, “Plains All American Pipelines’ first quarter earnings were below expectations. The Company’s pipeline toll volumes were impacted by extreme weather conditions. PAA’s operating expenses may increase to comply with strict regulations and implement security measures. Excess pipeline capacity in some areas could reduce demand for its midstream services. Enterprise units have underperformed the industry over the past year. However, PAA will benefit from the Permian mining, cost reduction initiatives, joint venture and asset divestiture that will support long-term operations. The company’s strong cash flow will help it strengthen its balance sheet. The expansion of existing pipelines and the addition of new pipeline projects in key regions are expected to boost its business. In addition, the company has sufficient liquidity to meet its obligations”

Quantafuel ASA (OTC:QNTFF) was downgraded by analysts at Nordea Equity Research from a hold rating to a sell rating.

Ring Central (NYSE: RNG) was downgraded by Robert W. Baird analysts from an Outperform rating to a Neutral rating. They currently have a price target of $80.00 on the stock, down from their previous price target of $95.00.

SEB (OTC: SEBYF) was downgraded by Oddo Bhf analysts from an outperform rating to a neutral rating.

Shift Technologies (NASDAQ:SFT) was downgraded by Benchmark Co. analysts from a buy rating to a hold rating.

Sims (OTCMKTS: SMSMY) was downgraded by analysts at The Goldman Sachs Group, Inc. from a buy rating to a neutral rating.

Switch (NYSE: SWCH) was downgraded by Raymond James analysts from a strong buy rating to a market yield rating.

Swedish Match AB (pub) (OTCMKTS:SWMAY) was downgraded by analysts at UBS Group AG from a buy rating to a neutral rating.

Taboola.com (NASDAQ:TBLA) was downgraded by Susquehanna analysts from a positive rating to a neutral rating. The company currently has a target price of $3.50 on the stock, down from its previous target price of $10.00.

Twilio (NYSE: TWLO) was downgraded by Robert W. Baird analysts from an Outperform rating to a Neutral rating. The company currently has a price target of $120.00 on the stock, down from its previous price target of $155.00.

Unilever (NYSE:UL) was downgraded by Societe Generale analysts from a buy rating to a sell rating.

Vestas Wind Systems A/S (OTCMKTS: VWDRY) was downgraded by analysts at Berenberg Bank from a buy rating to a hold rating.

Yum China (NYSE:YUMC) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. The company currently has a target price of $32.00 on the stock. According to Zacks, “Yum China shares have underperformed the industry over the past year. The downward trend is expected to continue as the company continues to be impacted by the pandemic. Recently, the company released its first-quarter 2022 results, with earnings not matching Zacks’ consensus estimate. The company noted that the Omicron variant continues to have a severe impact in the second quarter. Economically important regions like Shanghai, Tianjin, Jilin , Suzhou, Shenzhen and Guangzhou have been affected by the Omicron variant.Not only store operations, but also delivery and supply chain have been affected by the ever-changing restrictions.In the first quarter of 2022, store sales comparable stores fell 8% year over year.The poor performance continued in April (preliminary) when same store sales fell more than 20% from a th year to year. »



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