Analyst downgrades 8-31-07: CSG, PH, CBK, BNHNA and SHLD

Posted Aug 31st 2007 11:10AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Sears Holdings (SHLD)

MOST NOTEWORTHY: Cadbury Schweppes (CSG), Parker Hannifin (PH), Christopher & Banks (CBK), Benihana (BNHNA) and Sears Holdings (SHLD) were today's noteworthy downgrades:

Cadbury Schweppes PLC (NYSE: CSG) was downgraded to Equal-Weight from Overweight at Lehman Brothers to reflect lower-than-expected value from Cadbury's American Beverages sale or demerger.
Friedman Billings removed Parker Hannifin Corporation (NYSE: PH) from its Top Picks List, citing valuation.
Christopher & Banks Corporation (NYSE: CBK) was downgraded to Sector Performer from Outperformer at CIBC World Markets following the unexpected departure of CEO Matthew Dillon. Suntrust downgraded shares of the stock to Neutral from Buy citing pressure in the retail sector.
KeyBanc lowered shares of Benihana Inc (NASDAQ: BNHNA) to Buy from Aggressive Buy following the company's Q2 results.
Sears Holdings Corporation (NASDAQ: SHLD) was downgraded to Peer Perform from Outperform at Bear Stearns citing a continued deterioration in fundamentals and challenging outlook...

OTHER DOWNGRADES:

Brocade Communications Systems Inc (NASDAQ: BRCD) was removed from JP Morgan's Focus List; the firm maintained its Outperform rating.
Goldman Sachs downgraded Renovis Inc (NASDAQ: RNVS) to Sell from Neutral.
Raymond James downgraded shares of Amedisys Inc (NASDAQ: AMED) to Outperform from Strong Buy and shares of Restoration Hardware Inc (NASDAQ: RSTO) to Underperform from Market Perform.
Biogen Idec Incorporated (NASDAQ: BIIB) was downgraded to Hold from Buy at BWS Financial.