Analyst downgrades 3-08-07: TiVo finds competiton growing
Posted Mar 8th 2007 11:20AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news
MOST NOTEWORTHY: Some of today's more notable downgrades included Apartment Investment & Management Co (AIV), Weyerhaeuser Company (WY) and Edwards Lifesciences Corp (EW).
- RBC downgraded Apartment Investment & Management Co (NYSE: AIV) to Underperform from Sector Perform based on valuation and concerns regarding the company's transaction focus.
- Weyerhaeuser Co (NYSE: WY) was downgraded at BMO to Underperform from Market Perform based on valuation.
- Morgan Stanley downgraded Edwards Lifesciences (NYSE: EW) to Underweight from Equal-Weight based on increased competition and aggressive Street estimates for the downgrade.
OTHER DOWNGRADES:
- William Blair downgraded TiVo Inc (NASDAQ: TIVO) to Market Perform from Outperform citing slowing customer growth, competition, rising subscriber acquisition costs and valuation.
- Canccord cut Hollis-Eden Pharmaceuticals Inc (NASDAQ: HEPH) to Hold from Buy following the cancellation of the ARS contract.
- Morgan Stanley downgraded Cymer, Inc (NASDAQ: CYMI) to Underweight from Equal-Weight.
- Baird cut Genesco Inc (NYSE: GCO) to Neutral from Outperform following lowered guidance.
- Merriman cut Distributed Energy Systems Corp (NASDAQ: DESC) to Neutral from Buy following the company's lower-than-expected Q4 revenues.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: aimco, aiv, analyst, apartment investment management, ApartmentInvestmentManagement, cenesco, cymer, cymi, desc, distributed energy, DistributedEnergy, downgrade, edwards, ew, gco, heph, hollis eden, HollisEden, ivto, rating, theflyonthewall.com, weyerhaeuser, wy
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