Analyst downgrades: WAG, CBS, SLG, BDN and NVT
Posted Oct 2nd 2007 11:00AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Walgreen Co (WAG), CBS Corp 'B' (CBS)
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MOST NOTEWORTHY: Walgreen, CBS Corp, SL Green Realty, Brandywine Realty Trust and Navteq were today's noteworthy downgrades:
- Walgreen (NYSE: WAG) was downgraded to Neutral from Buy at Merrill and to Market Perform from Outperform following its weak Q4 report. Merrill sees limited upside following the worse-than-expected quarter.
- CBS Corporation (NYSE: CBS) was downgraded to Hold from Buy at Deutsche Bank to reflect the company's soft rating trends and poor local advertising growth.
- Banc of America downgraded shares of SL Green Realty (NYSE: SLG) and Brandywine Realty Trust (NYSE: BDN) to Neutral from Buy. The firm downgraded shares of SL Green to reflect their more cautious stance on the office sector and believes uncertainty over cap rates will limit share upside, and downgraded shares of Brandywine to reflect a lack of near-term catalysts and their more cautious stance on the office sector.
- Navteq Corporation (NYSE: NVT) was downgraded to Neutral from Buy at UBS and to Market Perform from Outperform at JMP Securities following its acquisition by Nokia Corporation (NYSE: NOK).
OTHER DOWNGRADES:
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