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Analyst downgrades 4-30-07: ADBE, AMZN, AGP and POT

Posted Apr 30th 2007 11:07AM by Kevin Shult
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Amazon.com (AMZN), Adobe Systems (ADBE)

MOST NOTEWORTHY: Amazon.com, Inc (AMZN), WellCare Health Plans, Inc (WCG) and agricultural chemical stocks were today's more noteworthy downgrades:

BWS Financial downgraded Amazon.com Inc (NASDAQ: AMZN) to Hold from Buy citing valuation.

Jefferies cut WellCare Health Plans Inc (NYSE: WCG) to Underperform from Hold and lowered their target to $69 from $80 as the firm believes higher-than-expected medical costs in Georgia will put significant pressure on earnings.

Citigroup downgraded Agrium Inc (NYSE: AGU), CF Industries Holdings, Inc (NYSE: CF), Potash Corp (NYSE: POT) and Terra Industries Inc (NYSE: TRA) to Hold from Buy given the year-to-date share appreciation, as their analysis suggests near-term positive earnings revisions are near a peak and should slow going forward. Citigroup remains positive on the fertilizer industry over the long-term.

OTHER DOWNGRADES:

Keefe Bruyette downgraded Federated Investors, Inc (NYSE: FII) to Market Perform from Outperform citing the potential impact from Bank of New York Co (BK)/ Mellon Financial Corp (MEL) transactions.

Jefferies cut Amerigroup Corp (NYSE: AGP) to Underperform from Hold with a $25 target.

Stephens downgraded Pacer International, Inc (NASDAQ: PACR) to Equal Weight from Overweight.

Atlantic Equities downgraded Adobe Systems Inc (NASDAQ: ADBE) to Neutral from Overweight.

Harman International Industries Inc (NYSE: HAR) was taken down to Hold from Buy at Gabelli.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Tags: adbe, adobe, agp, agrium, agu, amazon, amerigroup, amzn, analyst, cf, CF Inds, CfInds, downgrade, federated, fii, har, harman, pacer, pacr, pot, potash, rating, terra, theflyonthewall.com, tra, wcg, wellcare

Indexes	Change	Price
DJIA	-89.23	12,801.23
NASDAQ	-23.35	2,903.88
S&P 500	-9.31	1,342.64

Last updated: February 13, 2012: 02:13 AM

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