Analyst downgrades: YHOO (times 4), PSPT, SWKS
Posted May 5th 2008 12:12PM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Yahoo! (YHOO)
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MOST NOTEWORTHY: Yahoo! was today's noteworthy downgrade:
- Yahoo! (NASDAQ: YHOO) was downgraded to Sell from Accumulate at ThinkPanmure as they value the company at $20 on a standalone basis. The price target lowered to $20 from $31.
- Yahoo was also downgraded to Sell from Buy at Citigroup based on Microsoft (NASDAQ: MSFT) withdrawing its bid for the company. Target was reduced to $26 from $34.
- Yahoo was also downgraded to Sell from Accumulate, target $20 at ThinkPanmure.
- Yahoo was downgraded to Sell from Hold at Soleil with a $22 target as they do not believe Yahoo can re-attain the $33 a share that Microsoft offered through execution alone.
OTHER DOWNGRADES:
- PeopleSupport (NASDAQ: PSPT) was downgraded to Market Perform at JMP Securities on valuation, and because they are increasingly concerned about the long-term safety of the company's J.P. Morgan Chase credit card contract. The firm downgraded the shares from Market Outperform.
- Skyworks (NASDAQ: SWKS) was downgraded to Accumulate from Buy at ThinkPanmure following checks that indicate some "inventory digestion" at a couple of its key OEM customers, which could put estimates at risk
Tags: analyst, downgrade, inthenews, peoplesupport, pspt, skyworks, swks, yahoo, yhoo
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