Analyst downgrades: ROK, BCS, FFIV, FDRY, AMR and RHT
Posted Sep 24th 2007 10:40AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Red Hat Inc (RHT), AMR Corp (AMR), Barclays plc ADS (BCS)
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MOST NOTEWORTHY: Rockwell Automation, Barclays, F5 Networks, Foundry Networks, AMR Corp., and Red Hat were today's noteworthy downgrades:
- JP Morgan downgraded Rockwell Automation Inc (NYSE: ROK) to Neutral from Overweight based on valuation, as the firm believes the recent credit market turbulence could make a material recapitalization less likely.
- Bear Stearns downgraded shares of Barclays (NYSE: BCS) to Underperform from Peer Perform on valuation and expectations for losses in the company's Capital division.
- Nollenberger downgraded shares of F5 Networks Inc (NASDAQ: FFIV) to Neutral from Buy, as they believe the company is transitioning from a "beat and raise" story to a "meet and maintain" story given the recent disruptions in the financial services sector and slowing growth in active web hosts on the net. The firm also downgraded shares of Foundry Networks Inc (NASDAQ: FDRY) to Neutral from Buy on valuation, seeing a well balanced risk/reward profile at current levels.
- Soleil downgraded shares of AMR Corporation (NYSE: AMR) to Hold from Buy to reflect the company's deteriorating revenue and non-fuel cost outlook.
- Red Hat Inc (NYSE: RHT) was downgraded to Neutral from Outperform at Credit Suisse, citing lack of progress in execution.
OTHER DOWNGRADES:
- LDK Solar (NYSE: LDK) was downgraded at CIBC to Sector Performer from Outperformer.
- Friedman Billings downgraded Parker Hannifin Corporation (NYSE: PH) to Market Perform from Outperform.
- Morgan Keegan downgraded Cree Inc (NASDAQ: CREE) to Market Perform from Outperform.
Tags: amr, analyst, barclays, bcs, cree, downgrade, f5 networks, F5Networks, fdry, ffiv, foundry networks, FoundryNetworks, ldk, ldk solar, LdkSolar, parker hannifin, ParkerHannifin, red hat, RedHat, rht, rockwell, rok
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