We're downgrading it back to our 2 rating, meaning we would wait for a pullback before considering adding more shares.
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We're also downgrading the stock in conjunction with the sale.
We're not making a call on the upcoming results, but we would like to have more wiggle room.
We're adding back half the 80 shares we sold around $190 in May, and upgrading our rating to 1.
This stock has stalled out since July alongside a lack of positive earnings revisions.
It has been a frustrating decline, but we still view this weakness in the stock as a long-term buying opportunity.
The shares are down about 7% in premarket trading.
