Analyst downgrades: STO, PT and STEC

Posted Dec 10th 2007 12:35PM by Eric Buscemi
Filed under: Analyst upgrades and downgrades

MOST NOTEWORTHY: StatoilHydro, Portugal Telecom and STEC Inc were today's noteworthy downgrades:

• Deutsche Bank downgraded shares of StatoilHydro (NYSE: STO) to Hold from Buy after the company cut its production forecast.
  
• Credit Suisse lowered its rating on Portugal Telecom (NYSE: PT) to Underperform from Outperform on competition concerns.
  
• B. Riley downgraded shares of STEC Inc. (NASDAQ: STEC) to Neutral from Buy on valuation, as they believe the risk/reward is neutral following the recent rally.

OTHER DOWNGRADES:

• Jefferies downgraded Red Hat (NYSE: RHT) to Hold from Buy.
  
• UBS downgraded Palm Inc. (NASDAQ: PALM) to Sell from Neutral.
  
• Deutsche Bank lowered Telekom SA (NYSE: TKG) to Hold from Buy.
  
• Goldman downgraded Trident Microsystems (NASDAQ: TRID) to Neutral from Buy.

Tags: downgrades, PALM, PT, RHT, STEC, STO, TKG, TRID