Analyst downgrades 3-27-07: Both Vonage & Volvo were downgraded today
Posted Mar 27th 2007 10:56AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Newmont Mining (NEM), Vonage Holdings (VG)
MOST NOTEWORTHY: Vonage Holdings Corp (VG), General Maritime Corp (GMR), Newmont Mining Corp (NEM) and Edison International (EIX) were some of today's notable downgrades:
- Citigroup cut Vonage Holdings Corp (NYSE: VG) to Sell from Hold on patent litigation concerns as the firm believes the risk to profitability has increased.
OTHER DOWNGRADES:
- Deutsche Bank cut Volvo (NASDAQ: VOLV) to Sell from Hold. Friedman, Billings, Ramsey downgraded shares of SafeNet, Inc (SFNT) based on the Vector acquisition.
- CIBC downgraded Agnico-Eagle Mines Ltd (NYSE: AEM) to Sector Perform from Outperform on valuation as the firm expects an upcoming downward correction due to lower zinc prices.
- Ryan Beck cut Fulton Financial Corp (NASDAQ: FULT) to Market Perform from Outperform with a $16 target; SunTrust Robinson downgraded shares to Neutral from Buy due to the early payment defaults.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: aem, agnico, edison, eix, fult, fulton, general maritime, GeneralMaritime, gmr, nem, newmont, vg, volv, volvo, vonage
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