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

Tags: analyst, downgrade, inthenews, peoplesupport, pspt, skyworks, swks, yahoo, yhoo