MOST NOTEWORTHY: Wynn Resorts (WYNN), Las Vegas Sands (LVS) and Sprint Nextel (S) top today's list of downgrades.
- Wynn Resorts Ltd. (NASDAQ:WYNN) and Las Vegas Sands Corp. (NYSE:LVS) were downgraded by Stifel, Nicolaus & Co. to Hold from Buy on valuation.
- A.G. Edwards downgraded Sprint Nextel Corp. (NYSE:S) to Hold from Buy on valuation. The firm said shares are nearing their $21 target and they highlighted low subscriber additions and high churn remains as contributing factors.
OTHER DOWNGRADES:
- AU Optronics (NYSE:AUO) was downgraded at Deutsche Bank to Hold from Buy. The firm lowered its estimates to reflect earlier-than-expected weakness from both LCD TVs and LCD monitors, and it believes shares will be range-bound with the company's weaker earnings outlook.
- Finally, ThinkEquity downgraded RightNow Technologies, Inc. (NASDAQ:RNOW) to Source of Funds from Buy citing recent executive losses and competition ahead of the important 2007 product cycle.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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