Analyst downgrades: SNE, FTWR and CRME
Posted Jan 22nd 2008 8:55AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades, Sony Corp ADR (SNE), American Express (AXP)
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MOST NOTEWORTHY: Sony, FiberTower and Cardiome Pharma were today's noteworthy downgrades:
- Goldman lowered its rating on Sony (NYSE: SNE) to Neutral from Buy, citing the yen strength and the economic slowdown.
- Merriman downgraded shares of FiberTower (NASDAQ: FTWR) to Neutral from Buy following the CEO resignation due to added uncertainty. They do not anticipate the valuation to improve from current levels until a permanent CEO is named.
- Cardiome Pharma (NASDAQ: CRME) was downgraded to Neutral from Buy at Merrill following the FDA's decision to delay the Kynapid drug.
OTHER DOWNGRADES:
Tags: American Express, AmericanExpress, AXP, Cardiome Pharma, CardiomePharma, CRME, DB, Deutsche Bank, DeutscheBank, FiberTower, FTWR, JC Penney, JCP, JcPenney, SNE, Sony, Sony Corp, SonyCorp
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