Analyst downgrades: UCBH, NAHC and JSAIY

MOST NOTEWORTHY: UCBH Holdings, National Atlantic Holdings and J Sainsbury were today's noteworthy downgrades:

Friedman Billings downgraded UCBH Holdings (NASDAQ: UCBH) to Market Perform from Outperform. The firm said the departure of auditor PWC could not have come at a worse time following the recent CFO replacement and the credit-quality-related adverse change to Q4 earnings in the 10-K.
Citigroup cut National Atlantic Holdings (NASDAQ: NAHC) to Hold from Buy after the company announced plans to merger with a subsidiary of Palisades Safety and Insurance.
Goldman removed J Sainsbury (OTC: JSAIY) from the Conviction Buy List on fears that stagflation could impact earnings.

OTHER DOWNGRADES:

Suntrust cut Goodrich Petroleum (NYSE: GDP) to Neutral from Buy.
Cubist Pharma (NASDAQ: CBST) was downgraded to Market Weight from Overweight at Thomas Weisel.
ING lowered Banco Bilbao Vizcaya Argentaria (NYSE: BBV) to Hold from Buy.

Tags: analyst, Banco Bilbao Vizcaya Argentaria, BancoBilbaoVizcayaArgentaria, bbv, cbst, cubist, downgrade, gdp, goodrich petroleum, GoodrichPetroleum, j sainsbury, JSainsbury, jsaiy, nahc, national atlantic, NationalAtlantic, ucbh