Analyst downgrades 6-29-07: KOMG, GYI and RURL
Posted Jun 29th 2007 10:10AM by Kevin Shult
Filed under: Analyst Upgrades and Downgrades, Palm Inc (PALM)
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MOST NOTEWORTHY: Komag Incorporated (NASDAQ:
KOMG), commercial mortgage REITs,
Getty Images Inc (NYSE:
GYI) and
Rural/Metro Corporation (NASDAQ:
RURL) were today's noteworthy downgrades:
- Komag was downgraded to Neutral from Buy at Craig-Hallum, to Market Perform from Outperform at Piper Jaffray, to Hold from Buy at Deutsche Bank and to Neutral from Outperform at Robert W Baird & Co following the announcement it would be acquired by Western Digital Corporation (NYSE: WDC).
- Morgan Stanley downgraded Commercial Mortgage REITs to Underweight from Neutral. Specifically, the firm downgraded shares of Capital Trust, Inc (NYSE: CT) to Equal Weight from Underweight and Gramercy Capital Corp (NYSE: GKK) to Underweight from Equal Weight, citing increased credit spreads and subordination levels.
- Getty Images was downgraded to Sell from Hold at Matrix as the firm believes margins are declining and sees downside to their $40/share intrinsic value calculation.
- Rural/Metro was downgraded by Ferris, Baker Watts to Neutral from Buy on valuation.
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, barnes and noble, BarnesAndNoble, bks, capital trust, CapitalTrust, carrizo, cemex, crzo, ct, cx, downgrade, getty, gkk, gramercy, gyi, kmg, komag, palm, pmi, rural/metro, rurl, wdc, western digital, WesternDigital
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
