Analyst downgrades 5-16-07: AMAT, JWN, LTD, TXN and WSM
Posted May 16th 2007 11:29AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Applied Materials (AMAT), Texas Instruments (TXN), Limited Brands (LTD), Nordstrom, Inc (JWN)
MOST NOTEWORTHY: Limited Brands, Inc (LTD), Applied Materials, Inc (AMAT), Williams-Sonoma, Inc (WSM) and Texas Instruments Inc (TXN) were some of today's noteworthy downgrades:
- Limited Brands Inc (NYSE: LTD) was downgraded to Neutral from Buy at Banc of America, to Neutral from Accumulate at Buckingham, to Hold from Buy at Citigroup and to Market Perform from Outperform at Wachovia following the news of selling a majority interest in its Express brand and announcing the intent to explore strategic options for the company.
- Elsewhere, Cowen downgraded shares of Applied Materials (NASDAQ: AMAT) to Neutral from Outperform due to Q3 order guidance and limited visibility. American Technology removed Applied Materials from its Focus List.
- Williams-Sonoma (NYSE: WSM) was cut to Market Perform from Outperform at Piper Jaffray on concerns about mall traffic trends at the end of Q1 for both Pottery Barn and Williams-Sonoma brands.
OTHER DOWNGRADES:
- Nordstrom, Inc (NYSE: JWN) was taken down to Market Weight from Overweight at Thomas Wiesel.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: air france, AirFrance, akh, amat, analyst, applied materials, AppliedMaterials, downgrade, ingersol, ir, jwn, lam, limited, lrcx, ltd, nordstrom, rating, texas, theflyonthewall.com, williams-sonoma
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