MOST NOTEWORTHY: Alltel (AT), Exelon (EXC) and STMicroelectronics (STM) top today's extensive list of downgrades.
- Alltel Corp. (NYSE:AT) was downgraded at Robert W. Baird to Neutral from Outperform, citing lower EBITDA and valuation.
- Exelon Corp. (NYSE:EXC) was downgraded to Hold from Buy at Citigroup. The move came on lower expectations for growth at their ComEd unit.
- STMicroelectronics (NYSE:STM) was downgraded at Robert W. Baird to Neutral from Outperform citing weak NOR flash trends.
OTHER DOWNGRADES:
- Whole Foods Markets, Inc. (NYSE:WFMI) was downgraded to Sector Perform from Outperform at RBC Capital Markets on valuation.
- Finally, Prudential downgraded Timberland Co. (NYSE:TBL) to Underweight from Neutral citing management comments of continued earnings pressure.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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