Analyst downgrades 6-13-07: AL, COST, DF and HOFF
Posted Jun 13th 2007 11:44AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Costco Wholesale (COST), Dean Foods (DF)
MOST NOTEWORTHY: Some of today's more noteworthy downgrades included Dean Foods Co (DF), Louisiana-Pacific Corp (LPX), Costco Wholesale Corp (COST), Alcan Inc (AL) and Horizon Offshore, Inc (HOFF):
- Dean Foods Co (NYSE: DF) was cut to Neutral from Overweight at JP Morgan to reflect future guidance concerns after management's cautious tone.
- Louisana-Pacific Corp (NYSE: LPX) was downgraded to Strong Sell from Buy at Matrix USA. The firm believes a weak housing market is having a significant negative impact on shares and sees downside to $14/share.
- Bear Stearns cut Alcan (NYSE: AL) to Peer Perform from Outperform based on valuation.
- Oppenheimer downgraded Horizon Offshore (NASDAQ: HOFF) to Neutral from Buy on news of the acquisition by Cal Dive International (NYSE: DVR) as the firm believes the likelihood of a materially higher bid is low...
OTHER DOWNGRADES:
- Nucor Corp (NYSE: NUE) was taken off Goldman's Conviction Buy List.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: al, alcan, analyst, cost, dean, df, downgrade, epiq, federal, fss, hoff, horizon, lousiana, lpx, ngls, rating, targa, theflyonthewall.com, ucbi, united community, UnitedCommunity
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