Analyst downgrades: International Paper, Dynavax Tech, Telecom Italia
Posted Mar 18th 2008 12:05PM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Bear Stearns Cos (BSC)
.gif)
MOST NOTEWORTHY: International Paper, Dynavax Tech and Telecom Italia were today's noteworthy downgrades:
- JP Morgan downgraded International Paper (NYSE: IP) to Neutral from Overweight and said its purchase of Weyerhaeuser's (NYSE: WY) containerboard business will shift the company's focus back to North America and result in a less attractive product mix given increased OCC exposure.
- Merriman downgraded shares of Dynavax Tech (NASDAQ: DVAX) to Neutral from Buy after the company's hepatitis B vaccine was placed on clinical hold.
- Merrill cut Telecom Italia (NYSE: TI) to Neutral from buy as they expect stronger competition and regulatory measures to cut prices.
OTHER DOWNGRADES:
- Bear Stearns (NYSE: BSC) was downgraded to Neutral from Accumulate at Buckingham.
- ViewPoint Financial (NASDAQ: VPFG) was lowered to Market Perform from Outperform at Keefe Bruyette.
- Bear downgraded Siemens (NYSE: SI) to Peer Perform from Outperform.
Tags: analyst, bear stearns, BearStearns, bsc, downgrade, dvax, dynavax, international paper, InternationalPaper, ip, si, siemens, telecom italia, TelecomItalia, ti, viewpoint, vpfg, weyerhauser, wy
Entrepreneur's Journal: Key steps for telesales success
The week in preview: Focus returns to earnings: Alcoa, Chevron, Family Dollar
Comfort Zone Investing: Survival of the fittest -- letting some banks fail
