Analyst downgrades: INTC, European investment banks, AXP and IMCL
Posted Sep 14th 2007 10:20AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Intel (INTC), American Express (AXP)
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MOST NOTEWORTHY: Intel (INTC), European investment banks, American Express (AXP), and ImClone (IMCL) were today's noteworthy downgrades:
- Intel Corporation (NASDAQ: INTC) was downgraded to Neutral from Buy at Merrill Lynch, which cited valuation.
- European investment banks were downgraded by Societe Generale on concerns that investment banking revenue will decline. Deutsche Bank AG (NYSE: DB) was downgraded to Sell from Hold. Credit Suisse Group (NYSE: CS) was downgraded to Sell from Buy, and UBS AG (NYSE: UBS) was downgraded to Hold from Buy.
- American Express Company (NYSE: AXP) was downgraded to Neutral from Buy by Merrill Lynch, which cited slower consumer spending.
- ImClone Systems Incorporated (NASDAQ: IMCL) was downgraded to Market Perform from Outperform at Friedman Billings, which lowered their estimates following feedback regarding the FLEX study announcement.
OTHER DOWNGRADES:
Tags: American Express, AmericanExpress, AXP, BOBJ, Business Objects, BusinessObjects, Credit Suisse, CreditSuisse, CS, DB, Deutsche Bank, DeutscheBank, FLR, Fluor, IMCL, ImClone, INTC, Intel, National CineMedia, NationalCinemedia, NCMI, ROP, Roper Industries, RoperIndustries, UBS, UBS AG, UbsAg
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