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Analyst downgrades: YHOO (times 4), PSPT, SWKS

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

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Last updated: December 02, 2008: 02:57 PM

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