Analyst downgrades: RDS.A, C, AFR and COGN
Posted Nov 6th 2007 11:15AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Microsoft (MSFT), Citigroup Inc. (C), Bed Bath and Beyond (BBBY), Nordstrom, Inc (JWN)
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MOST NOTEWORTHY: Royal Dutch Shell, Citigroup, American Financial and Cognos were today's noteworthy downgrades:
- Credit Suisse downgraded shares of Royal Dutch Shell (NYSE: RDS.A) to Neutral from Outperform based on valuation as analyst estimates now look about right, removing a potential catalyst.
- Banc of America downgraded shares of Citigroup (NYSE: C) to Neutral from Buy and lowered their target to $39 from $45 given the eroding confidence in the company's earnings and book value.
- American Financial (NYSE: AFR) was downgraded to Neutral from Buy at UBS and to Market Perform from Outperform at Friedman Billings following its acquisition by Gramercy Capital Corp (NYSE: GKK).
- CIBC downgraded Cognos (NASDAQ: COGN) to Sector Performer from Outperformer based on takeover valuation premium and FX headwinds.
OTHER DOWNGRADES:
- Goldman removed Microsoft (NASDAQ: MSFT) from its Conviction Buy List.
- Merrill downgraded AMBAC Financial (NYSE: ABK) to Neutral from Buy.
- Morgan Stanley downgraded the hardlines and softlines retail sectors to Cautious from In Line; the firm also downgraded Bed Bath & Beyond (NASDAQ: BBBY) to Equal Weight from Overweight and Nordstrom (NYSE: JWN) to Underweight from Equal Weight.
Tags: abk, afr, ambac, american financial, AmericanFinancial, analyst, c, citigroup, cogn, cognos, downgrade, gkk, gramercy, microsoft, msft, rds.a, royal dutch shell, RoyalDutchShell
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Reader Comments (Page 1 of 1)
11-06-2007 @ 11:36AM
hopflcd said...
These downgrades are a joke. All of these stocks have fallen a great deal. To downgrade them at this point shows how little the analysts know. Where is all the good advice before the disaster occurs. Either the information is given only to a select few or the analysts (the "so-called high priced pros'] do not have a clue. Charles Hopfl
12-28-2007 @ 9:55AM
High lawn said...
My wife & I have close to 15 years employed with the company & being an insider it is really no surprise why the stock is tanking. The end of this downslide is not in sight either. We both got out due to poor management decisions & personally knowing Lenny Feinstein & Warren Eisenberg, & taking their position into account only further solidifies what we already know. Get out while you can there are only so many life-jackets to go around before this ship sinks all together.