Posted by admin on Jun 6th, 2022

Research Analysts’ downgrades for Monday, June 6th:

Appen (OTCMKTS:APPEF) was downgraded by analysts at Citigroup Inc. to a hold rating. Citigroup Inc. currently has $6.60 price target on the stock.

Assertio (NASDAQ:ASRT) was downgraded by analysts at StockNews.com from a strong-buy rating to a buy rating.

AVEVA Group (OTCMKTS:AVEVF) was downgraded by analysts at Citigroup Inc. from a neutral rating to a sell rating.

Doman Building Materials Group (OTCMKTS:CWXZF) was downgraded by analysts at Stifel Nicolaus from a buy rating to a hold rating.

Doman Building Materials Group (TSE:DBM) was downgraded by analysts at Stifel Nicolaus to a hold rating. They currently have C$7.00 target price on the stock.

Dun & Bradstreet (NYSE:DNB) was downgraded by analysts at Royal Bank of Canada from an outperform rating to a sector perform rating. They currently have $18.00 target price on the stock, up from their previous target price of $16.00.

Electricité de France (OTCMKTS:ECIFY) was downgraded by analysts at HSBC Holdings plc from a hold rating to a reduce rating.

Edison International (NYSE:EIX) was downgraded by analysts at UBS Group AG from a buy rating to a neutral rating. The firm currently has $73.00 price target on the stock, down from their previous price target of $75.00.

EnQuest (OTCMKTS:ENQUF) was downgraded by analysts at Barclays PLC from an equal weight rating to an underweight rating. The firm currently has $23.00 price target on the stock.

Flex (NASDAQ:FLEX) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. The firm currently has $18.00 target price on the stock. According to Zacks, “Flex is benefiting from strength across the Agility Solutions and Reliability Solutions segments, along with a solid end-market focus on the back of emerging opportunities. Moreover, the company rides on solid “Sketch-to-Scale” approach and growing intellectual property (IP) portfolio. Despite the ongoing supply-chain woes, Flex raised its revenue outlook for fiscal 2023. It now expects revenues between $27.7 billion and $28.7 billion. Demand remains healthy across automotive and industrial verticals. Shares have outperformed the industry in the year-to-date period. The consumer devices segment reported negative revenue growth due to ongoing supply challenges. Profit margins were negatively affected by increased freight and logistics costs. Stiff competition along with high debt levels and customer concentration risks are other concerns.”

L.B. Foster (NASDAQ:FSTR) was downgraded by analysts at B. Riley from a buy rating to a neutral rating.

Futu (NASDAQ:FUTU) was downgraded by analysts at CLSA from an underperform rating to a sell rating. They currently have $27.00 target price on the stock.

StealthGas (NASDAQ:GASS) was downgraded by analysts at StockNews.com from a buy rating to a hold rating.

Harmony Gold Mining (NYSE:HMY) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. They currently have $3.75 target price on the stock. According to Zacks, “Earnings estimates for Harmony for the current year have been decreasing over the past month. Harmony is benefiting from a diverse portfolio of gold development projects. Amid the pandemic, gold is seen as a safe-haven asset. Also, higher gold prices and reduction in debt levels work in favor of the company. However, the company is exposed to issues such as mine shut downs and labor strikes. It is facing a tough labor relationship environment. Higher operational and production costs is a concern. Apart from electricity supply concerns, the company has labor issues. These factors are disrupting operations and resulting in high operational costs. Higher production costs are denting margins.  A significant rebound in gold demand is also unlikely over the short term, given continued uncertainties surrounding the pandemic.”

Hunting (OTCMKTS:HNTIF) was downgraded by analysts at Barclays PLC from an overweight rating to an underweight rating.

Johnson Matthey (OTCMKTS:JMPLY) was downgraded by analysts at HSBC Holdings plc from a buy rating to a hold rating.

Praxis Precision Medicines (NASDAQ:PRAX) was downgraded by analysts at Wedbush from an outperform rating to a neutral rating. They currently have $4.00 price target on the stock.

good natured Products (OTCMKTS:SLGBF) was downgraded by analysts at Raymond James from an outperform rating to a market perform rating.

Snap (NYSE:SNAP) was downgraded by analysts at Huber Research from an overweight rating to an underweight rating.

Técnicas Reunidas (OTC:TNISY) was downgraded by analysts at Barclays PLC from an overweight rating to an equal weight rating.

Turning Point Therapeutics (NASDAQ:TPTX) was downgraded by analysts at HC Wainwright from a buy rating to a neutral rating. HC Wainwright currently has $76.00 price target on the stock, down from their previous price target of $161.00.

Turning Point Therapeutics (NASDAQ:TPTX) was downgraded by analysts at Cowen Inc from an outperform rating to a market perform rating.

Turning Point Therapeutics (NASDAQ:TPTX) was downgraded by analysts at Cowen Inc. from an outperform rating to a market perform rating.

Westlake (NYSE:WLK) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. The firm currently has $137.00 target price on the stock. According to Zacks, “Earnings estimates for Westlake for the second quarter have been increasing over the past month. The company is expected to benefit from synergies of acquisitions. The Axiall buyout has diversified its product portfolio and geographical operations. The NAKAN acquisition has also allowed the company to boost its compounding business globally. Further, the company is seeing favorable demand trends for polyethylene and polyvinyl chloride (PVC) resin. Also, rising housing starts in the United States augur well for its downstream business and domestic demand for PVC. The company should also benefit from its capacity expansion projects. Its strong liquidity position should also allow it to meet its debt obligations. However, it faces headwinds from higher feedstock costs. Its operations are also exposed to maintenance outages. “

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