Analyst downgrades 5-01-07: AMR, BBY, CAL, CC, GE and JBLU
Posted May 1st 2007 11:06AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, General Electric (GE), Sprint Nextel Corp (S), Best Buy (BBY), Carnival Corp (CCL), Southwest Airlines (LUV), US Airways Group (LCC), AMR Corp (AMR), Contl Airlines'B' (CAL), UAL Corp (UAUA), JetBlue Airways (JBLU)
Circuit City Stores (CC), select airline stocks and General Electric (GE) were today's noteworthy downgrades:
- Citigroup downgraded shares of Circuit City Stores NYSE: CC) to Hold from Buy and lowered their target to $17 from $26 following management's second guidance cut in one month; the firm thinks there is more bad news to come. The electronics-retailer was also downgraded to Market Perform from Outperform at Raymond James and to Neutral from Buy at Robinson Humphries. Circuit City was cut to Sell from Hold at Soleil.
- General Electric (NYSE: GE) was removed from Goldman Sachs' Americas Conviction Buy list on valuation.
OTHER DOWNGRADES:
- Prudential expects Sprint Nextel Corp's (NYSE: S) company-specific problems to continue and weigh on shares and downgraded the phone-giant to Underweight from Neutral.
- Banc of America downgraded shares of LSI Corp (NYSE: LSI) to Neutral from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: amr, analyst, bby, best buy, BestBuy, cal, cc, circuit city, CircuitCity, continental, downgrade, ge, general electric, GeneralElectric, jblu, jetblue, lcc, lsi, lsi corp, LsiCorp, luv, nextel, rating, southwest, sprint, theflyonthewall.com, U.S. air, U.s.Air, ual, uaua, us air, UsAir
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Reader Comments (Page 1 of 1)
5-01-2007 @ 12:02PM
de rigueur said...
iloved seeing that goldman suks removed ge from their americas conviction buy list(what the hell is that??!!) it is well known that the biggest idiots and in some cases the biggest crooks are at goldman suks. that is no secret. their self-importance is exceeded only by their myopic lack of sapience. i hope people pay no mind to the actions of this imbecilic group of people. i can say this because i made my money on wall st
5-01-2007 @ 3:45PM
Richard Cunningham said...
That is just what the market needs. Some uninformed analyst downgrading a super comapny like G.E. No company can produce double digit earnings forever. DO THE MATH!!!