Analyst downgrades: EGP, TTWO and CLMT
Posted Apr 24th 2008 11:20AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, XM Satellite Radio (XMSR)
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MOST NOTEWORTHY: EastGroup Properties, Take-Two and Calumet Specialty were today's noteworthy downgrades:
- After EastGroup (NYSE:EGP) reported slightly higher-than-expected Q1 FFO per share, Cantor Fitzgerald downgraded the stock to Hold from Buy on valuation. However, the firm still believes that the company's business model and dividend fundamentals are well-positioned.
- Citigroup downgraded Take-Two (NASDAQ:TTWO) to Hold from Buy citing balanced risk/reward as the firm does not expect an aggressive competing bid process.
- Raymond James downgraded Calumet (NASDAQ:CLMT) to Underperform from Market Perform following the company's reduction in distribution to 45c unit from 63c.
OTHER DOWNGRADES:
Tags: analyst, calumet, clmt, directv, downgrade, dtv, eastgroup, egp, first midwest bancorp, FirstMidwestBancorp, fmbi, inthenews, take-two, ttwo, xm satellite, XmSatellite, xmsr
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