MOST NOTEWORTHY: XM Satellite Radio (XMSR) and Cisco Systems (CSCO) topped today's list of notable downgrades.- XM Satellite Radio Holdings 'A' (NASDAQ: XMSR) was downgraded by Bank of America to Neutral from Buy, with a $17 target, as they see limited upside potential and significant downside potential if the company doesn't merge with Sirius Satellite Radio (NASDAQ: SIRI).
- Cisco Systems (NASDAQ: CSCO) was downgraded at Prudential and Bank of America to Neutral, citing valuation for the move.
OTHER DOWNGRADES:
- Cablevision Systems 'A' (NYSE: CVC) was downgraded to Neutral from Buy at Bank of America as they believe the Dolan family's $30/share bid is probably their best and final offer.
- Getty Images (NYSE: GYI) was downgraded to Sell from Hold at Kaufman Brothers. They cited the changing stock imaging market, lowered expectations for 2007 and the options review overhang for the downgrade.
- UIL Holdings (NYSE: UIL) was downgraded to Underweight from Hold at BB&T, citing valuation and lowered estimates.
- RBC Capital Markets downgraded Abitibi Consolidated (NYSE: ABY) to Underperform from Sector Performer.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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