Analyst downgrades 3-30-07: Ameristar Casinos, Paychex & Earthlink downgraded today
Posted Mar 30th 2007 11:19AM by Kevin Shult
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News
MOST NOTEWORTHY: Insituform Technologies, Inc (INSU), Ameristar Casinos, Inc (ASCA) and Christopher & Banks Corp (CBK) were some of today's more noteworthy downgrades:
- Canaccord Adams downgraded shares of Insituform Technologies (NASDAQ: INSU) to Underweight from Neutral following the company's reduced outlook and announcement to exit the tunneling business.
- Prudential downgraded shares of Ameristar Casinos (NASDAQ: ASCA) to Underweight from Neutral on valuation following the recent run-up due to speculation the company will be sold; based on management statements, Prudential believes a company sale is unlikely.
OTHER DOWNGRADES:
- ABN AMRO downgraded shares of British Airways plc (NYSE: BAB) to Sell from Hold as the firm believes profits on trans-Atlantic routes may drop from increased competition due to the "open skies" agreement between the European Union and the U.S.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: ameristar, analyst, asca, bab, british, cbk, china, christopher, chu, downgrade, earthlink, elnk, insituform, insu, paychex, payx, theflyonthewall.com, wci, wci communities, WciCommunities
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