Analyst downgrades 4-23-07: AMZN, CVX, JDSA, PFE, XOM and XRX downgraded today
Posted Apr 23rd 2007 11:05AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Pfizer (PFE), Amazon.com (AMZN), Exxon Mobil (XOM), Chevron Corp (CVX), ConocoPhillips (COP), Coventry Health Care (CVH), Xerox Corp (XRX), Jones Soda (JSDA), Johnson Controls (JCI)
MOST NOTEWORTHY: Pfizer Inc (PFE), Exxon Mobil Corp (XOM), ConocoPhillips (COP), Xerox Corp (XRX), and Amazon.com, Inc (AMZN) were some of today's noteworthy downgrades:
- Prudential downgraded shares of Pfizer Inc (NYSE: PFE) to Neutral from Overweight with a $29 target to reflect concerns about competition from generic medications and a lack of new products.
- Citigroup downgraded shares of Xerox Corp (NYSE: XRX) to Sell from Hold as the firm believes the acquisition of Global Systems could hurt profits in the short-term. The broker recommended trimming positions of Xerox on any strength.
- Amazon.com (NASDAQ: AMZN) was cut to Underperform from Market Perform at Piper Jaffray based on valuation...
OTHER DOWNGRADES:
- Stifel lowered its rating of Jones Soda Co (NASDAQ: JSDA) to Hold from Buy on valuation.
- Deutsche Bank downgraded shares of Chevron Corp (NYSE: CVX) to Sell from Hold based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: adtn, adtran, amazon, amzn, analyst, chevron, conoco, cop, coverntry, cvh, cvx, downgrade, exxon mobil, ExxonMobil, jci, johnson, jones, jsda, pfe, pfizer, rating, theflyonthewall.com, vertex, vrtx, xerox, xom, xrx
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Reader Comments (Page 1 of 1)
5-03-2007 @ 2:15PM
Jayson said...
JCI is lots better , even at the current price , than JP Morgan may suggest. It's VERY strong in heating & cooling in the US & is expanding it's international footprint . It's auto parts business in the US is slightly soft , but it's international exposure is growing exponentially .
A little pullback could be understandable , based on it's recent run-up to an all time high , but in the long run I believe that it looks very strong , particularly based on good management & it's past history .
5-21-2007 @ 11:08AM
Adrian Clark said...
Why is it that the Analyst from Citibank appears to be the only one who periodically downgrades XEROX. Is he a 'fired Xerox employee' or is he a young inexperienced guy. The trouble is people listen to him and the stock drops in value BUT thank goodness it always comes back.
Where are all the older guys that have experience? I would much rather listen to someone that has had plenty of experience in the market and believe that the stock market is a long term investment and not a casino.