Analyst downgrades: Harley-Davidson, JP Morgan, AMBAC

Posted Jan 17th 2008 11:58AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades, JPMorgan Chase (JPM), Adobe Systems (ADBE), Harley-Davidson (HOG), Wells Fargo (WFC)

MOST NOTEWORTHY: Harley-Davidson, JP Morgan Chase and AMBAC were today's noteworthy downgrades:

Citigroup downgraded shares of Harley-Davidson (NYSE: HOG) to Sell from Hold and lowered their target to $36 from $51 on expectations for sluggish U.S. retail sales in Q4. They expect U.S. retail sales to decline 10%-12% in the quarter.
JP Morgan (NYSE: JPM) was lowered to Perform from Outperform at Oppenheimer, citing the company's dramatic increase in consumer losses.
AMBAC (NYSE: ABK) was downgraded to Market Perform from Outperform at William Blair following news of the company's expected loss and CEO departure, given the lack of visibility.

OTHER DOWNGRADES:

Adobe (NASDAQ: ADBE) and McAfee (NYSE: MFE) Were downgraded to Neutral from Buy at UBS.
Lehman downgraded Decode Genetics (NASDAQ: DCGN) to Underweight from Equal Weight.
Oppenheimer downgraded Wells Fargo (NYSE: WFC) to Perform from Outperform.

Tags: ABK, ADBE, DCGN, HOG, JPM, MFE, WFC

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Reader Comments (Page 1 of 1)

1-17-2008 @ 3:35PM

Steve in Denver said...

I'm on the down side of the age bell curve, but never thought I'd live to see SO MUCH irrational behavior from the various facets of the financial sectors! This is like the ladies in the beauty parlor jumping on their chairs over a mouse. Go ahead, jackasses!!! sell like hell!! that just makes is cheaper for me to buy all those good companies out there. SELL!!, SELL!!, SELL!! the world is sending... and I'm gonna buy stock in the companies that will rebuild it.