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MOST NOTEWORTHY: Target, Capital One and Energy East were today's noteworthy downgrades:
- Banc of America downgraded Target (NYSE:TGT) to Neutral from Buy, as they believe the middle tier consumer is slowing and that recent trends provide low visibility in 2008.
- Morgan Stanley downgraded shares of Capital One (NYSE:COF) to Underweight from Overweight and lowered their target to $45 from $88 as they believe the U.S. consumer-finance industry could see a more severe cycle than what is currently being priced into shares.
- Energy East (NYSE:EAS) was lowered to Underperform from Hold at Jefferies, as they believe shares are overvalued trading at only a modest discount to Iberdrola's $28.50 offer given the growing regulatory uncertainty.
OTHER DOWNGRADES:
- Deutsche Bank downgraded Lennar (LEN) to Hold from Buy.
- Rodman & Renshaw lowered Smith & Wesson (SWHC) to Underperform from Market Perform.
- Discover (DFS) was downgraded to Sell from Neutral at Merrill Lynch.
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Reader Comments (Page 1 of 1)
12-07-2007 @ 12:09PM
Doug said...
Yes,Idiots. sell COF at the bottom. People all over are throwing out credit cards? Wrong.Best time to buy and hold.