Analyst downgrades: Process control sector, RHD, VG, CCE and RIG
Posted Sep 19th 2007 11:35AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Coca-Cola Enterprises (CCE), Vonage Holdings (VG)
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MOST NOTEWORTHY: The process control sector, R.H. Donnelley, Vonage, Coca-Cola Enterprises and Transocean were today's noteworthy downgrades:
- Baird reduced estimates across the board in the process control sector due to lower expectations for North American industrial and residential construction. The firm downgraded Roper Industries (NYSE: ROP), Regal-Beloit Corp (NYSE: RBC) and Baldor Electric (NYSE: BEZ) to Neutral from Outperform and AO Smith Corporation (NYSE: AOS) to Underperform from Neutral.
- Goldman downgraded shares of R.H. Donnelley Corporation (NYSE: RHD) to Neutral from Buy after the company updated its 2007 guidance to reflect deteriorating trends in local advertising.
- Vonage Holdings Corp (NYSE: VG) was downgraded to Sell from Hold at Soleil due to liquidity concerns.
- Coca-Cola Enterprises (NYSE: CCE) was downgraded to Hold from Buy at Deutsche Bank on valuation and mixed near-term trends.
- Transocean Inc (NYSE: RIG) was downgraded to Hold from Buy at Gabelli. Even though the deepwater market continues to be strong, the firm is concerned regarding the continuing weakness in the jackup market as well as the limited upside potential due to the company's ships being in use through 2009.
OTHER DOWNGRADES:
Tags: analyst, ao smith, aos, AoSmith, baldor electric, BaldorElectric, bez, blue nile, BlueNile, cce, checkfree, ckfr, coca-cola, downgrade, firm, mcafee, mfe, nile, rbc, regal-beloit, rh donnelley, rhd, RhDonnelley, rig, rop, roper, siri, sirius satellite radio, SiriusSatelliteRadio, transocean, vg, vonage, xm satellite radio, XmSatelliteRadio, xmsr
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