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MOST NOTEWORTHY: British American Tobacco, Vertex Pharma and YRC Worldwide were today's noteworthy downgrades:
- ABN Amro downgraded shares of British American Tobacco (AMEX: BTI) to Hold from Buy on valuation, as they view shares as fairly valued following the strong performance in 2007.
- Wachovia lowered its rating on Vertex Pharma (NASDAQ: VRTX) to Underperform from Market Perform citing the potential push out of the telaprevir market launch to 2012 from 2010, which will allow the competition to grab share.
- The firm also downgraded YRC Worldwide (NASDAQ: YRCW) to Underperform from Market Perform, as they have little confidence in any material near-term improvement for the company.
OTHER DOWNGRADES:
Walmart's New Health Food Push: Is It Too Hard to Swallow?
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
