Analyst downgrades 7-24-07: AXP, GSF, NFLX, TIVO and WSM
Posted Jul 24th 2007 11:03AM by Kevin Shult
Filed under: Analyst reports, Analyst upgrades and downgrades, Bad news, Netflix, Inc. (NFLX), American Express (AXP), Stocks to Sell
MOST NOTEWORTHY: Netflix (NFLX), NiSource (NI), TiVo (TIVO), Williams-Sonoma (WSM) and KLA-Tencor (KLAC) were today's more noteworthy downgrades:
- Netflix (NASDAQ: NFLX) was cut to Hold from Buy at Needham to reflect the lowered subscriber guidance and their belief that things can get worse before getting better. Shares were also downgraded at Cowen, to Neutral from Outperform, and Lehman, to Equal Weight from Overweight.
- NiSource (NYSE: NI) was cut to Underweight from Equal Weight at Lehman based on the expected increases in interest expense and taxes.
- TiVo (NASDAQ: TIVO) was downgraded to Short from Sell at SMH Capital and believes the current valuation now reflects 20% penetration of the Comcast Corp (CMCSK)-owned digital sub base for the joint venture product bundle, which the firm considers aggressive. In addition, the firm believes TiVo's new pricing structure doesn't add much value.
- Matrix cut Williams-Sonoma (NYSE: WSM) to Sell from Hold on valuation and deteriorating operating results.
- Citigroup downgraded shares of KLA-Tencor (NASDAQ: KLAC) to Hold from Buy on valuation as they see risk to 2H07 estimates due to slower near-term cost savings and higher integration costs...
OTHER DOWNGRADES:
- Merrill downgraded Wyeth (NYSE: WYE) to Neutral from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Tags: american express, AmericanExpress, analyst, atheros, athr, axp, downgrade, global, gsf, inthenews, klac, netflix, nflx, ni, nisource, rating, theflyonthewall.com, tivo, united, uri, williams, wsm, wye, wyeth
Once again, OPEC has killed the goose that lays the golden egg
Closing Bell: Markets bounce after yesterday's sell-off; BA, F, GE, DOW all up, GS down 
Where have all the consumers gone?
