Investment Analysts’ Downgrades for February, 13th (CR, CRR.UN, CSRA, ECS, IIP.UN, MYND, NFI, SOT.UN, WFC, WMT)

Investment Analysts’ downgrades for Tuesday, February 13th:

Crew Energy (TSE:CR) was downgraded by analysts at Eight Capital from a buy rating to a neutral rating. Eight Capital currently has C$2.75 price target on the stock, down from their previous price target of C$4.25.

Crombie Real Estate Investment Trust (TSE:CRR.UN) was downgraded by analysts at National Bank Financial from an outperform rating to a sector perform rating. National Bank Financial currently has C$14.25 target price on the stock, down from their previous target price of C$15.00.

CSRA (NYSE:CSRA) was downgraded by analysts at Drexel Hamilton from a buy rating to a hold rating.

Ecobalt Solutions (TSE:ECS) was downgraded by analysts at Canaccord Genuity from a speculative buy rating to a hold rating. The firm currently has C$1.50 price target on the stock, up from their previous price target of C$1.30.

Interrent Real Estate Investment Trust (TSE:IIP.UN) was downgraded by analysts at National Bank Financial from an outperform rating to a sector perform rating. They currently have C$9.40 target price on the stock, down from their previous target price of C$9.50.

MYnd Analytics (NASDAQ:MYND) was downgraded by analysts at Maxim Group to a hold rating.

New Flyer Industries (TSE:NFI) was downgraded by analysts at National Bank Financial from an outperform rating to a sector perform rating. They currently have C$61.00 target price on the stock, down from their previous target price of C$62.00.

Slate Office REIT (TSE:SOT.UN) was downgraded by analysts at National Bank Financial from an outperform rating to a sector perform rating. National Bank Financial currently has C$8.25 target price on the stock, down from their previous target price of C$8.60.

Wells Fargo & Co (NYSE:WFC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Shares of Wells Fargo underperformed the industry over the last six months. Yet, the company has a decent earnings surprise history. The company surpassed the Zacks Consensus Estimate for earnings in two out of the trailing four quarters. Wells Fargo’s fourth-quarter 2017 earnings improved from the prior-year quarter. Notably, results recorded tax benefit related to the Tax Cuts & Jobs Act. Recently, Wells Fargo has been slapped with new sanctions including a cap on the assets position for the past misconducts by the Federal Reserve. Moreover, Moody’s has downgraded the rating outlook of the bank to negative, though S&P has kept unchanged at stable. While the current crisis related to the revelation of illegally opening millions of illegal accounts in 2016 at the company will take some time to alleviate, we believe consistent growth in loans and deposits, lower tax rate and expansions will likely support its growth profile.”

Wal-Mart Stores (NYSE:WMT) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Walmart, which recently dropped the “hyphen” and “stores” from its name to officially emerge as an omnichannel retailer, has surpassed the industry in a year. The company has been riding on its robust past record, which derives strength from constant e-commerce initiatives, like buyouts, alliances, surging grocery business and improved delivery systems. Thanks to these trends, along with solid traffic, Walmart’s third-quarter fiscal 2018 marked its ninth and 13th straight quarter of positive earnings surprise and comps growth, respectively. Also, the company’s international business remains a growth driver. However, costs associated with technological and e-commerce investments; mix impact from growing e-commerce operations and a compelling pricing strategy have been hurting Walmart’s gross margin for a while now. Stiff competition and volatile consumer spending also pose threats.”

Xylem (NYSE:XYL) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Over the last three months, Xylem’s shares have outperformed the industry. The company reported robust fourth-quarter 2017 results. Quarterly adjusted earnings of 76 cents per share, exceeded the year-ago tally by 12%. The company believes improving wastewater transport, dewatering, gas, software & services and analytics business will continue to bolster its revenues in the quarters ahead. Moreover, Xylem noted that addition of Pure Technologies and EmNet will enhance its competency. Profitability in the upcoming quarters is anticipated to improve on the back of stronger top-line growth and ongoing productivity initiatives. However, over the last three months, Xylem’s shares have looks overvalued compared to the industry. Challenging oil and gas market conditions might hurt the company’s results in the quarters ahead. Moreover, a sudden supply chain issue might also prove fatal going forward.”

Yandex (NASDAQ:YNDX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Yandex N.V. operates an Internet search website in Russia. Blog searches offered by the Company’s website includes feeds from leading blog hosting and social networking sites in Russia, including LiveJournal, Vkontakte and Facebook. The Company also offers a wide range of specialized search, personalized and location-based services, including Yandex.News, Yandex.Market, Yandex.Mail and Yandex.Maps. Yandex N.V. and is headquartered in Moscow, the Russian Federation. “

Zions Bancorp (NASDAQ:ZION) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Zions’ shares have outperformed the industry over the past six months. The performance was supported by the company’s impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company’s fourth-quarter 2017 results benefited from improvement in revenues, partly offset by higher adjusted non-interest expenses. The company has been witnessing consistent growth in loans and deposits along with easing margin pressure. Also, its initiatives to manage expenses have been successful. This along with lower corporate tax rates are expected to support bottom-line growth. However, increased exposure toward risky loan portfolios is expected to hamper the company's financials. Also, geographical concentration might pose a risk for the company in the near term.”

Zynga (NASDAQ:ZNGA) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Zynga Inc. is the world’s largest social game developer with users playing their games which include CityVille, FarmVille, FrontierVille, Words With Friends, Mafia Wars, Zynga Poker, Cafe World, and Treasure Isle. Zynga Inc. games are available on a number of global platforms including Facebook, MySpace, Yahoo, the iPad, the iPhone and Android devices. They operate their games as live services, by which they mean that they continue to support and update games after launch and gather daily, metrics-based player feedback that enable them to continually enhance their games by adding new content and features. All of their games are free to play, and they generate revenue through the in-game sale of virtual goods and advertising. “

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