Analyst downgrades: BEAS, NOK, MHS, DGX and PETM
Posted Oct 15th 2007 11:15AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Nokia Corp. (NOK), Qwest Communications Intl (Q)
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MOST NOTEWORTHY: BEA Systems, Nokia, Medco Health, Quest Diagnostics and PetSmart were today's noteworthy downgrades:
- Citigroup downgraded shares of BEA Systems (NASDAQ: BEAS) to Hold from Buy on valuation following the $17/share offer by Oracle (NASDAQ: ORCL) as they think a public bidding war for the company is unlikely.
- ABN Amro downgraded shares of Nokia Corporation (NYSE: NOK) to Hold from Buy on valuation and believes above consensus Q3 results are already priced into shares.
- Wachovia downgraded Medco Health Solutions (NYSE: MHS) to Market Perform from Outperform on valuation.
- The firm also downgraded Quest Diagnostics (NYSE: DGX) to Market Perform from Outperform, as they believe the prospects from stabilizing volumes and cost savings are reflected in valuation and Street estimates.
- Credit Suisse downgraded shares of PetSmart (NASDAQ: PETM) to Neutral from Outperform citing aggressive pricing at Petco, accelerating growth initiatives, limited visibility around expense management, and lack of consistent results.
OTHER DOWNGRADES:
Tags: analyst, bea, beas, coldwater creek, ColdwaterCreek, cwtr, dgx, downgrade, hei, heico, medco, meoh, met, methanex, metlife, mhs, nok, nokia, oracle, orcl, petm, petsmart, q, quest, qwest
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