Analyst downgrades: AKH, BHP, AZN, BRCM and SVVS
Posted Oct 24th 2007 11:17AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Blockbuster Inc 'A' (BBI), Boston Scientific (BSX), Broadcom Corp'A' (BRCM), BHP Billiton Ltd ADR (BHP)
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MOST NOTEWORTHY: Air France, BHP Billiton, AstraZeneca, Broadcom and Savvis were today's noteworthy downgrades:
- Goldman removed shares of Air France (NYSE: AKH) from its Conviction Buy List due to the increase in the price of fuel and the possibility of an economic slowdown.
- Goldman downgraded BHP Billiton (NYSE: BHP) to Neutral from Buy and removed the stock from its Pan-Europe Buy List due to valuation.
- Merrill Lynch downgraded shares of AstraZeneca (NYSE: AZN) to Sell from Neutral to reflect increased competition from generic-drug makers, a poor pipeline and slow earnings growth.
- Wachovia downgraded shares of Broadcom Corporation (NASDAQ: BRCM) to Hold from Buy to reflect valuation and the company's lower than expected Q3 results. Shares were also lowered to Hold from Buy at Deutsche Bank.
- Stanford lowered Savvis (NASDAQ: SVVS) to Hold from Buy and notes that the company's Q3 results and Q4 revenue guidance brings the company's 2007 revenue outlook $15M below the consensus, and advises investors to remain on the sidelines. The firm believes the company's strategy is sound, but that its execution has been slow.
OTHER DOWNGRADES:
Tags: air france, AirFrance, akh, akzo nobel, AkzoNobel, akzoy, analyst, astrazeneca, azn, bbi, bexp, bhp, bhp billiton, BhpBilliton, blockbuster, boston scientific, BostonScientific, brcm, bringham exploration, BringhamExploration, broadcom, bsx, downgrade, mariner energy, MarinerEnergy, me, nbl, nobel energy, NobelEnergy, plantronics, plt, savvis, svvs
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