Analyst downgrades 12-18-06: Eli Lilly downgraded to Neutral

MOST NOTEWORTHY: Eli Lilly (LLY) and L-3 Communications (LLL) were the only notable downgrades today:

HSBC downgraded Eli Lilly & Co. (NYSE:LLY) to Neutral from Overweight.
Following the loss of the Army Linguist contract, Credit Suisse downgraded L-3 Communications Hldgs Inc. (NYSE:LLL) to Neutral from Outperform with an $83 target.

OTHER DOWNGRADES:

Cooper Companies Inc. (NYSE:COO) was downgraded to Underweight from Neutral, with a $42 target at Prudential; they believe another reduction in 2007 guidance is likely and, additionally, the company is likely to lose additional market share in the Toric market.
Credit Suisse, seeing potential risk to production targets at Murphy Oil Corp. (NYSE:MUR), downgraded the company to Underperform from Neutral.
RBC Capital Markets downgraded Sovereign Bancorp Inc. (NYSE:SOV) to Underperform from Sector Perform based on valuation.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Tags: cooper companies, CooperCompanies, eli lily, EliLily, L-3 commnications, L-3Commnications, murphy oil, MurphyOil, sovereign bancorp, SovereignBancorp

12-18-2006 @ 2:09PM

Eli Lilly needs to get a grip on it's outstanding zyprexa personal injury settlement claims.

Daniel Haszard

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