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MOST NOTEWORTHY: Jabil Circuit, Aircastle, Genesis Lease and P.F. Chang's were today's noteworthy downgrades:
- JP Morgan downgraded shares of Jabil Circuit (NYSE: JBL) to Underweight from Overweight following the lower-than-expected guidance, as they believe the company is seeing end market weakness in most of its markets. Shares were also downgraded at Thomas Weisel to Market Weight from Overweight and at Credit Suisse to Neutral from Outperform following the disappointing guidance.
- JP Morgan also downgraded shares of Aircastle (NYSE: AYR) and Genesis Lease (GLS) to Neutral from Overweight to reflect the continued credit and equity market challenges faced by both companies.
- Friedman Billings downgraded shares of P.F. Chang's (NASDAQ: PFCB) to Underperform from Market Perform as they believe 2008 will be a challenging year for all casual dining restaurant companies and that the valuation is expensive at current levels.
OTHER DOWNGRADES:
- Goldman added Foundation Coal (NYSE: FCL) to its Conviction Sell List.
- Collins Stewart cut SiRF Technology (NASDAQ: SIRF) to Hold from Buy.
- Elan Corp (NYSE: ELN) was downgraded to Sell from Hold at Canaccord Adams.
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