Analyst downgrades 9-7-07: BSC, OCR, KFRC and WYE
Posted Sep 7th 2007 11:00AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, EMC Corp (EMC), Bear Stearns Cos (BSC)
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MOST NOTEWORTHY: Bear Stearns, Omnicare, Kforce.com and Wyeth were today's noteworthy downgrades:
- Bear Stearns Companies (NYSE: BSC) was downgraded to Neutral from Buy at Banc of America to reflect weaker fixed income trends, challenges in prime-brokerage and asset management, and no positive catalysts. They feel the stock is "dead money" for the next 6-12 months.
- Morgan Stanley lowered Omnicare Inc's (NYSE: OCR) rating to Underweight from Equal Weight citing the Department of Justice's inquiry into the company's business practices.
- Suntrust believes Street expectations for Kforce Inc (NASDAQ: KFRC) may be too optimistic given a potential slowdown in finance and accounting temporary staffing volumes and downgraded shares to Neutral from Buy.
- Wyeth (NYSE: WYE) was downgraded to Hold from Buy at Citigroup to reflect a more negative industry outlook, recent pipeline setbacks and the negative court ruling related to the Protonix litigation.
OTHER DOWNGRADES:
Tags: alab, alabama national, AlabamaNational, analyst, bear stearns, BearStearns, bsc, computer sciences, ComputerSciences, csc, downgrade, emc, firm, kforce, kfrc, ocr, omnicare, wye, wyeth
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