Analyst downgrades 2-23-07: Newmont Mining downgraded to Underperform
Posted Feb 23rd 2007 12:20PM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, ALLTEL Corp (AT), Newmont Mining (NEM)
MOST NOTEWORTHY:
- L-3 Communications Holdings Inc (NYSE: LLL) was downgraded by Bank of America to Neutral from Buy based on valuation, as they see limited upside from current levels. The firm's target for L-3 is $92.
- NewMont Mining Corp (NYSE: NEM) was downgraded by RBC Capital Markets to Underperform from Sector Perform based on Newmont's weak production profile and declining financial forecasts. The firm lowered its price target for Newmont to $48 from $52.
OTHER DOWNGRADES:
- K Swiss Inc (NASDAQ: KSWS) was downgraded by Susquehanna to Neutral from Positive. The firm does not believe domestic sales will stabilize until 2008 and sees European growth being less robust over the next several quarters.
- Alltel Corporation (NYSE: AT) was downgraded at Deutsche Bank to Hold from Buy on valuation. The firm's target for Alltel is $63.
Tags: alltel, analyst, at, bank of america, BankOfAmerica, deutsche bank, DeutscheBank, downgrade, firm, k swiss, KSwiss, ksws, L-3, lll, nem, newmont, rbc, susquehanna
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