Analyst downgrades: JLL, DRIV, BOOM, ALLT and OXM

Posted Oct 10th 2007 11:00AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Target Corp. (TGT), Contl Airlines'B' (CAL)

MOST NOTEWORTHY: Jones Lang LaSalle, Digital River, Dynamic Materials, Allot Communications and Oxford Industries were today's noteworthy downgrades:

Wachovia downgraded shares of Jones Lang LaSalle (NYSE: JLL) to Market Perform from Outperform, as they expect the deterioration in the credit markets to lead to fewer closed deals over the next year.
Oppenheimer transitioned coverage of Digital River (NASDAQ: DRIV) and downgraded shares to Neutral from Buy. The broker finds shares fairly valued given the pricing pressure and customer concentration.
Jefferies downgraded shares of Dynamic Materials Corporation (NASDAQ: BOOM) to Hold from Buy on valuation as they believe shares are already pricing in the company's near-term earnings potential.
Allot Communications (NASDAQ: ALLT) was downgraded to Sector Performer from Outperformer at CIBC World Markets after the company pre-announced weaker-than-expected Q3 results.
Oxford Industries (NYSE: OXM) was downgraded to Hold from Buy at Morgan Joseph and to Neutral from Buy at SunTrust following the disappointing Q1 report and guidance.

OTHER DOWNGRADES:

Piper Jaffray downgraded Target Corporation (NYSE: TGT) to Market Perform from Outperform.
Thornburg Mortgage (NYSE: TMA) was downgraded to Underperform from Market Perform at Keefe Bruyette.
JP Morgan removed Continental Airlines (NYSE: CAL) from its Focus List.
NRG Energy (NYSE: NRG) was downgraded to Neutral from Buy at Calyon.