Analyst downgrades: BCS, GRP and FRPT

Posted Dec 19th 2007 11:39AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades

MOST NOTEWORTHY: Barclays, Grant Prideco and Force Protection were today's noteworthy downgrades:

Goldman downgraded shares of Barclays PLC (NYSE: BCS) to Sell from Neutral and added the stock to their Conviction Sell List citing credit concerns. They believe negative headlines on writedowns will continue to weigh on shares.
Banc of America downgraded shares of Grant Prideco (NYSE: GRP) due to its acquisition by National Oilwell Varco (NYSE: NOV).
Collins Stewart downgraded shares of Force Protection (NASDAQ: FRPT) to Underperform from Buy after the company did not receive MRAP vehicles ordered last night. They believe shares are likely to trade at book value of $3.58 or lower in the short term and set a target price of $2.90.

OTHER DOWNGRADES:

Keefe Bruyette removed Navigators Group (NASDAQ: NAVG) from its Best Ideas List.
Morgan Stanley downgraded Petro-Canada (NYSE: PCZ) to Underweight from Equal Weight.
Jefferies downgraded Exelon (NYSE: EXC) to Hold from Buy.

Tags: BCS, downgrades, EXC, FRPT, GRP, NAVG, NOV, PCZ