Analyst downgrades: HBC, AZN, ELOS, TLB, BKUNA and FED
Posted Oct 19th 2007 10:45AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Upgrades and Downgrades
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MOST NOTEWORTHY: HSBC Holdings, AstraZeneca, Syneron Medical, Talbots, BankUnited and First Fed Financial were today's noteworthy downgrades:
- UBS downgraded shares of HSBC Holdings(NYSE: HBC) to Neutral from Buy on valuation, rising customer defaults and slower growth at the company's the U.S. consumer-finance unit.
- UBS also downgraded AstraZeneca (NYSE: AZN) to Sell from Neutral, as they believe the company faces major risks from drug approvals, competition and lawsuits.
- Merriman downgraded shares of Syneron Medical (NASDAQ: ELOS) to Neutral from Buy following the company's Q3 earnings preannouncement due to near-term margin erosion and growth drivers that remain four quarters away.
- CIBC downgraded shares of Talbots (NYSE: TLB) to Sector Performer from Outperformer as they believe 2H07 expectations are too high given the current weakness in the Missy space.
- Friedman Billings downgraded BankUnited (NASDAQ: BKUNA) to Market Perform from Outperform and FirstFed Financial (NYSE: FED) to Underperform from Market Perform based on credit trends that are eroding faster than anticipated.
OTHER DOWNGRADES:
Tags: analyst, astrazeneca, azn, bankunited, bkuna, bobj, business objects, BusinessObjects, cab, cabela's, downgrade, elos, fed, firstfed, hbc, hsbc, jmp, jmp group, JmpGroup, syneron, talbots, tlb
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