Analyst downgrades: Coal sector, independent refiners and ALXN
Posted Feb 15th 2008 10:52AM by Eric Buscemi
Filed under: Analyst upgrades and downgrades, Whole Foods Market (WFMI)
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MOST NOTEWORTHY: The coal sector, independent refiners and Alexion Pharmaceuticals were today's noteworthy downgrades:
- Goldman downgraded the coal sector to Cautious from Neutral, citing valuations and expectations for lower coal prices. The firm downgraded CONSOL Energy (NYSE: CNX) Peabody Energy (NYSE: BTU) to Neutral from Buy and Arch Coal (NYSE: ACI) to Sell from Neutral.
- Lehman downgraded independent refiners, including Alon USA Energy (NYSE: ALJ), to Negative from Neutral and continues to believe that 2H07 marked an inflection point for U.S. refiners, which are transitioning from a multiyear up-cycle into a new downtrend.
- Alexion Pharmaceuticals (NASDAQ: ALXN) was lowered to Market Perform from Outperform at Wachovia following the company's Q4 results, as they believe management's revenue guidance represents a best-case scenario.
OTHER DOWNGRADES:
- Lehman lowered Bayer (OTC: BAYRY) to Equal Weight from Overweight and Whole Foods (NASDAQ: WFMI) to Underweight from Equal Weight.
Tags: ACI, Alexion Pharmaceuticals, AlexionPharmaceuticals, ALJ, Alon USA Energy, AlonUsaEnergy, ALXN, Arch Coal, ArchCoal, Bayer, BAYRY, BTU, CNX, coal industry, CoalIndustry, CONSOL Energy, ConsolEnergy, inthenews, Peabody Energy, PeabodyEnergy, WFMI, Whole Foods, WholeFoods
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