Analyst downgrades: SWIR, NVTI, GFSI, IFX and VRSN

Posted Nov 15th 2007 11:31AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades, Nokia Corp. (NOK), QUALCOMM Inc (QCOM)

MOST NOTEWORTHY: Sierra Wireless, Navteq, Goldleaf Financial, Infineon and VeriSign were today's noteworthy downgrades:

Piper downgraded shares of Sierra Wireless (NASDAQ: SWIR) to Market Perform from Outperform to reflect increasing competition for the company's core businesses and longer term margin concerns. Based on comments from Qualcomm (NASDAQ: QCOM), Piper believes the new Gobi embedded solution is gaining more traction than previously anticipated.
The firm also downgraded Navteq (NYSE: NVT) to Market Perform from Outperform as they believe the Nokia (NYSE: NOK) acquisition will close.
Credit Suisse lowered its rating on Goldleaf Financial (NASDAQ: GFSI) to Market Perform from Outperform following its weak Q3 report and guidance.
ABN Amro downgraded shares of Infineon (NYSE: IFX) to Hold from Buy as they believe the strength of the euro will hurt margins.
VeriSign (NASDAQ: VRSN) was downgraded to Hold from Buy at Hambrecht to reflect the uncertainty surrounding the company's numerous divestitures as well as the execution risk.

OTHER DOWNGRADES:

JP Morgan removed Pilgrim's Pride (NYSE: PPC) from its Focus List.
Bear Stearns downgraded European Pharmaceuticals to Market Weight from Market Overweight.
Wachovia downgraded AmeriGas Partners (NYSE: APU), Exelon (NYSE: EXC) and FPL Group (NYSE: FPL) to Market Perform from Outperform.

Tags: APU, downgrades, EXC, FPL, GFSI, IFX, NOK, NVT, PPC, QCOM, SWIR, VRSN

Print this

Reader Comments (Page 1 of 1)

11-15-2007 @ 11:38AM

Janeg said...

Investors will once again to keep their eyes on Merrill Lynch. The NewsVisual article on the firm’s new CEO, John Thain, http://www.newsvisual.com/newsvisual/2007/11/john-thain.html makes clear that his experience is an asset that can help Merrill move forward.