Analyst downgrades: Mortgage lenders and SBUX
Posted Dec 17th 2007 11:38AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades, Starbucks (SBUX), Caterpillar (CAT), Countrywide Financial (CFC)
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MOST NOTEWORTHY: Certain mortgage lenders and Starbucks were today's noteworthy downgrades:
- Citigroup downgraded certain mortgage lenders and consumer credit companies, including Countrywide Financial (NYSE: CFC) and MGIC Investment (NYSE: MTG) to Hold from Buy and Radian Group (NYSE: RDN) and Capital One (NYSE: COF) to Sell from Hold, as they believe mortgage and other consumer-related credit challenges will impact share performance over the intermediate term.
- Starbucks (NASDAQ: SBUX) was downgraded to Sector Perform from Outperform at RBC Capital, as they believe Starbucks will continue to be pressured given sales weakness, EPS risk and return compression.
OTHER DOWNGRADES:
- Caterpillar (NYSE: CAT) was downgraded to Underweight from Equal Weight at Morgan Stanley.
- JP Morgan lowered its rating on Westpac Banking (NYSE: WBK) to Neutral from Overweight.
- CIBC downgraded UBS AG (NYSE: UBS) to Sector Underperform from Sector Perform.
Tags: CAT, CFC, COF, MTG, RDN, SBUX, UBS, WBK
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