Analyst downgrades 7-10-07: DCEL, FORM, GGG and RACK
Posted Jul 10th 2007 10:21AM by Kevin Shult
Filed under: Before the Bell, Analyst Reports, Analyst Upgrades and Downgrades, Bad News, Graco Inc (GGG)
MOST NOTEWORTHY: FormFactor, Inc (FORM), Graco Inc (GGG), China Telecom (CHA), Sempra Energy (SRE) and Unica Corp (UNCA) were today's noteworthy downgrades:
- JP Morgan cut FormFactor (NASDAQ: FORM) to Underweight from Neutral citing expected competition from Micronics Japan, which has successfully ramped up production at its new advanced probe card factory.
- CIBC's checks suggest that challenges still remain in Graco's (NYSE: GGG) contractor segment and is likely to impact results, downgrading shares to Sector Performer from Sector Outperformer.
- Deutsche Bank downgraded shares of China Telecom (NYSE: CHA) to Hold from Buy to reflect slower user growth as the company added 77% fewer fixed-line customers in the first five months of 2007.
- Sempra Energy (NYSE: SRE) was cut to Outperform from its Top Pick rating at RBC Capital following the company's JV announcement with the Royal Bank of Scotland (RBSPY).
- Jefferies downgraded shares of Unica (NASDAQ: UNCA) to Hold from Buy after the company reported lower than expected Q3 licenses to reflect too much variance in execution...
OTHER DOWNGRADES:
- Stanford cut Dobson (NASDAQ: DCEL) to Hold from Buy.
- Lehman assumed coverage of Extreme Networks (NASDAQ: EXTR) with an Equal Weight rating, downgrading shares from Overweight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, cha, china teleco, ChinaTeleco, dcel, dobson, downgrade, extr, extreme, first solar, FirstSolar, form, formfactor, fslr, ggg, graco, linear, lltc, rack, rackable, rating, sempra, sre, theflyonthewall.com, unca, unica
Walmart's New Health Food Push: Is It Too Hard to Swallow?
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
