Analyst downgrades 5-24-07: AGN, FITB, SLB and VCLK

MOST NOTEWORTHY: The more noteworthy downgrades today came from Calyon, which cut five companies in the oil services and equipment sector:

Calyon is taking a more cautious stance due to valuations in the sector. The firm believes strong fundamentals are now reflected in share prices. As such, Calyon downgraded Global Industries, Ltd (NASDAQ: GLBL), Ensco International Inc (NYSE: ESV), Transocean Inc (NYSE: RIG) and Schlumberger Ltd (NYSE: SLB) to Add from Neutral and downgraded Gerber Scientific, Inc (NYSE: GRB) to Neutral from Add...

OTHER DOWNGRADES:

Piper Jaffray cut ValueClick, Inc (NASDAQ: VCLK) to Market Perform from Outperform.

UBS cut Lyondell Chemical Co (NYSE: LYO) and IndyMac Bancorp, Inc (NYSE: IMB) to Neutral from Buy.

Goldman downgraded Worthington Industries, Inc (NYSE: WOR) to Sell from Neutral.

Matrix USA cut Allergan, Inc (NYSE: AGN) to Sell from Hold and Fifth Third Bancorp (NASDAQ: FITB) was downgraded to Underperform from Market Perform at Keefe Bruyette.

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

Tags: agn, allergan, analyst, downgrade, ensco, esv, fifth third, FifthThird, fitb, gerber, glbl, global, grb, imb, indymac, lyo, lyondell, rating, rig, schlumberger, slb, theflyonthewall.com, transocean, valueclick, vclk, wor, worthington

5-24-2007 @ 11:40AM

I have not seen any upgrades or holds on FNB or FCF
despite the rumor of FNB buying FCF. Do you know why?

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