Analyst downgrades 2-21-07: Motorla, Palm, CSX downgraded today
Posted Feb 21st 2007 11:21AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Motorola (MOT), KB HOME (KBH), QUALCOMM Inc (QCOM), Palm Inc (PALM), Hasbro Inc (HAS), China Life Insurance ADS (LFC)
MOST NOTEWORTHY: Motorola Inc (MOT), Maguire Properties Inc (MPG), China Life Insurance Co Ltd (LFC) and Palm, Inc (PALM) were some of today's most notable downgrades:
- Lehman Bros downgraded shares of Motorola Inc (NYSE: MOT) to Equal Weight from Overweight with a $20 target citing a slower recovery in handset margins.
- Stifel downgraded Maguire Properties Inc (NYSE: MPG) to Sell from Hold. Friedman Billings removed Maguire from its Top Picks list, citing the $2.9 billion acquisition of California assets for the removal.
- Bear Stearns downgraded China Life Insurance Co Ltd (NYSE: LFC) to Underperform from Peer Perform based on valuation.
- ThinkEquity cut Palm, Inc (NASDAQ: PALM) to Accumulate from Buy with an $18 target citing valuation driven by takeover speculation as well as lack of execution improvements.
OTHER DOWNGRADES:
- UBS downgraded shares of both CSX Corp (NYSE: CSX) and Kansas City Southern (NYSE: KSU) to Neutral from Buy on valuation. The broker raised CSX's target to $45 from $41 and raised Kansas City's target to $38 from $33.
- AG Edwards downgraded Qualcomm, Inc (NASDAQ: QCOM) to Hold from Buy on valuation.
- Lehman downgraded Hasbro Inc (NYSE: HAS) to Equal Weight from Overweight with a $30 target.
- Matrix USA downgraded KB Home (NYSE: KBH) to Hold from Strong Buy based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, china life, ChinaLife, csx, downgrade, has, hasbro, kansas city southern, KansasCitySouthern, kb home, kbh, KbHome, ksu, lfc, maguire, mot, motorola, mpg, palm, qcom, qualcomm, rating, rating change, RatingChange, theflyonthewall.com
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