Analyst downgrades: ERIC, ALU, GM and AAUK
Posted Oct 16th 2007 11:15AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, General Motors (GM), Alcatel-LucentADS (ALU), Anglo American (AAUKY)
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MOST NOTEWORTHY: Ericsson, Alcatel-Lucent, General Motors and Anglo American were today's noteworthy downgrades:
- Ericsson (NASDAQ: ERIC) was downgraded to Reduce from Buy at WestLB and to Neutral from Outperform at Credit Suisse following the company's Q3 profit warning.
- WestLB downgraded shares of Alcatel-Lucent (NYSE: ALU) to Reduce from Hold following Ericsson's profit warning, as they believe Alcatel-Lucent's mobile business will face top-line and margin issues.
- Bear Stearns downgraded shares of General Motors Corporation (NYSE: GM) to Underperform from Peer Perform after learning that benefits from the new union contract will be lower than expected in 2008 and 2009. The broker recommends swapping into Ford Motor Company (NYSE: F).
- HSBC downgraded shares of Anglo American (NASDAQ: AAUK) to Neutral from Overweight on valuation. Morgan Stanley downgraded shares of Anglo to Equal Weight from Overweight also on valuation, as they see better value elsewhere in the sector.
OTHER DOWNGRADES:
Tags: aauk, alcatel-lucent, alu, analyst, anglo american, AngloAmerican, biib, biogen, downgrade, eric, ericsson, f, ford, general motors, GeneralMotors, gm, sra, srx, syngenta, syt, thq, thqi, wbk, westpac
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Reader Comments (Page 1 of 1)
10-16-2007 @ 3:56PM
V.S. said...
Bear Sterns is wrong on this call. GM stocks will hit $55 to $58 by the end of the year. Merrill Lynch has up-graded GM to "buy"......
10-19-2007 @ 12:51PM
paul verdun said...
YES GM STOCK WILL HIT 7$55 TO $ 58 BUT I SEE $62 BY THE END OF THE YEAR .