Analyst downgrades: COH, HLYS, JNY and KO
Posted Aug 8th 2007 11:04AM by Kevin Shult
Filed under: Analyst reports, Analyst upgrades and downgrades, Bad news, Coca-Cola (KO), Coach Inc (COH), Jones Apparel Group (JNY)
MOST NOTEWORTHY: Radian Group (RDN), Heelys (HLYS), Sonus Networks (SONS), Leap Wireless (LEAP) and MetroPCS (PCS) were today's noteworthy downgrades:
- Radian Group (NYSE: RDN) was downgraded to Hold from Buy with a $23 target at Citigroup on concerns over the company's potential merger with MGIC Investment (MTG).
- Heelys (NASDAQ: HLYS) was downgraded to Neutral from Outperform at Baird, to Hold from Buy at Brean Murray, to Neutral from Overweight at JP Morgan, to Sector Performer from Outperformer at CIBC and to Market Perform from Outperform at Wachovia following the company's FY07 guidance which was well below the consensus.
- Sonus Networks (NASDAQ: SONS) was downgraded to Sell from Neutral at Merriman, as the firm believes there are a number of concerns that are not reflected in shares, including a flat N-T revenue outlook, a cut in 700bp in gross margins and a sharp uptick in receivable days, among other things.
- LeapWireless (NASDAQ: LEAP) and MetroPCS were both downgraded to Hold from Buy at Citigroup, as they believe the break in subscriber momentum will last for 6-9 months. Wachovia downgraded Leap Wireless to Market Perform from Outperform citing mixed Q2 results and weak Q3 guidance.
OTHER DOWNGRADES:
- UBS removed Coca-Cola (NYSE: KO) and Coach (NYSE: COH) from its Strategic Stock Selection List.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Tags: analyst, cbf, cbre, coach, coca-cola, coh, coke, dick, dks, downgrade, heelys, hlys, jny, jones, ko, leap, leapwireless, radian, rating, rdn, sons, sonus
Related Posts
- Stay defensive: Invest in consumer staples (7 days ago - 0 Comments)
- Campbell Soup's bottom line increased, but Wall Street passed on stock (8 days ago - 0 Comments)
- Analyst calls: SNV, BASFY, AKZOY, FUL, GA, WLT, AHD, OZM, HOG, MRK (19 days ago - 0 Comments)
- Coach (COH): Value investor sees 'handsome rewards' (21 days ago - 0 Comments)
- Level 3 Communications' price target slashed to 50 cents at Citi (22 days ago - 0 Comments)
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?
