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Analyst downgrades: PEP, ACAS, O and KFN

MOST NOTEWORTHY: American Capital, Realty Income and KKR Financial were today's noteworthy downgrades:
  • Jefferies downgraded American Capital (NASDAQ: ACAS) to Underperform from Hold as they see a disproportionate risk profile in the company's current portfolio when compared to most peers.
  • Banc of America cut Realty Income (NYSE: O) to Sell from Neutral as they believe the current valuation is not sustainable.
  • Bear lowered KKR Financial (NYSE: KFN) to Peer Perform from Outperform following the company's announcement that it intends to sell 20M shares in a public offering.
OTHER DOWNGRADES:
  • Goldman cut PepsiCo (NYSE: PEP) to Neutral from Buy.
  • RBC Capital downgraded Avocent (NASDAQ: AVCT) to Sector Perform from Outperform.
  • JP Morgan removed NICE Systems (NASDAQ: NICE) from its Focus List.

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DJIA+32.7311,220.96
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S&P 500+5.481,242.31

Last updated: September 08, 2008: 05:03 AM

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