Neogen downgraded to Market Perform from Outperform at William Blair

William Blair downgraded Neogen (NEOG) to Market Perform from Outperform. The firm had remained bullish because of what it had seen as sales and profitability growth potential, but management pointed to a worsening macro environment that resulted in fiscal 2026 revenue guidance that implies flat to declining revenues. In this context, the firm does not see “a pathway to improving markets, leaving us with tepid fiscal 2026 guidance,” the analyst tells investors.