Analyst downgrades 9-6-07: APLX, TWX, AAPL and LVLT

MOST NOTEWORTHY: Applix, Time Warner, Apple and Level 3 Communications were today's noteworthy downgrades:

Applix Inc (NASDAQ: APLX) was downgraded to Neutral from Buy at First Albany and SunTrust Robinson Humphrey following the acquisition by Cognos Inc (NASDAQ: COGN).
Time Warner Inc (NYSE: TWX) was downgrade to Neutral from Buy at Pali Capital. The firm has lost faith in Time Warner's executive management team and Board of Directors and feels the outlook for AOL is concerning.
Gabelli downgraded Apple Inc (NASDAQ: AAPL) shares to Hold from Buy on iPhone concerns and valuation as they view the iPhone price cut as an indication that sales are not living up to management's expectations.
Buckingham Research downgraded shares of Level 3 Communications Inc (NASDAQ: LVLT) to Underperform from Neutral citing deterioration in demand for some key products.

OTHER DOWNGRADES:

SL Green Realty (NYSE: SLG) was downgraded to Equal Weight from Overweight at Lehman Brothers.
Citigroup downgraded shares of Volkswagen AG (OTC: VLKAY) to Sell from Hold.
Zumiez Inc (NASDAQ: ZUMZ) was downgraded to Market Perform from Outperform at Morgan Keegan.
JP Morgan downgraded Northeast Utilities (NYSE: NU) to Neutral from Overweight.
Goldman Sachs downgraded Radiation Therapy Services Inc (NASDAQ: RTSX) to Neutral from Buy.

Tags: aapl, analyst, aplx, apple, applix, cogn, cognos, downgrade, firm, level 3, level three, Level3, LevelThree, lvlt, northeast utilities, NortheastUtilities, nu, radiation therapy, RadiationTherapy, rtsx, sl green, slg, SlGreen, time warner, TimeWarner, twx, vlkay, volkwagen, zumiez, zumz

9-06-2007 @ 12:00PM

apple is overpriced should be 45

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