Analyst downgrades 4-03-07: First Data, Molson, Novell all downgraded today
Posted Apr 3rd 2007 11:07AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, ConocoPhillips (COP), Novell Inc (NOVL), First Data (FDC)
MOST NOTEWORTHY: First Data Corp (FDC), Molson Coors Brewing Co (TAP), MetLife, Inc (MET), GSI Commerce, Inc (GSIC) and Foundation Coal Holdings, Inc (FCL) were some of today's noteworthy downgrades:
- Citigroup cut First Data Corp (NYSE: FDC) to Hold from Buy and AG Edwards cut the Colorado-based Computer Services company to Hold from Buy, following the acquisition by KKR; AG Edwards also removed First Data from its Focus Portfolio.
- Goldman Sachs removed MetLife Inc (NYSE: MET) from its Conviction Buy List.
- Bear Stearns cut GSI Commerce (NASDAQ: GSIC) to Underperform from Outperform based on valuation.
OTHER DOWNGRADES:
- Jefferies downgraded Novell, Inc (NASDAQ: NOVL) to Hold from Buy on valuation after yesterday's "April Fool's-inspired" rally as the firm believes upside from the initial Microsoft-(MSFT) driven SLES deals and restructuring are priced in.
- Stifel downgraded Pearson PLC (NYSE: PSO) to Hold from Buy on valuation.
- Buckingham downgraded Diebold Inc (NYSE: DBD) to Neutral from Accumulate on valuation.
- CIBC downgraded Ipsco Inc (NYSE: IPS) to Sector Performer from Outperform based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, conoco, cop, dbd, diebold, downgrade, fcl, fdc, first data, FirstData, foundation coal, FoundationCoal, gsi commerce, gsic, GsiCommerce, ips, ipsco, met, metlife, molson, novell, novl, pearson, pso, rating, tap, theflyonthewall.com
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