Analyst downgrades: SUN, RYAAY, HBC, MPP, PCU, CNH and HBC
Posted May 6th 2008 11:59AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, PetroChina Co Ltd ADR (PTR)
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MOST NOTEWORTHY: Sunoco, Ryanair and HSBC Holdings were today's noteworthy downgrades:
- JP Morgan downgraded Sunoco (NYSE: SUN) to Underweight from Neutral citing expected margin pressure due to high leverage to sweet crude. Goldman also downgraded shares of Sunoco to Neutral from Buy.
- Deutsche Bank downgraded shares of Ryanair (NASDAQ: RYAAY) to Sell from Hold as they believe the European airlines sector will trade well below book value until the companies deal with higher oil prices.
- UBS cut HSBC (NYSE: HBC) to Neutral from Buy to reflect the potential for higher losses at the company's household unit and weak performance at its U.S. bank.
OTHER DOWNGRADES:
- Broadpoint lowered MTS Medication (NYSE: MPP) to Neutral from Strong Buy.
- HSBC cut Southern Peru Copper (NYSE: PCU) to Neutral from Overweight.
- Goldman downgraded CNH Global (NYSE: CNH) to Neutral from Buy and PetroChina (PTR) to Sell from Buy.
Tags: analyst, cnh, cnh global, CnhGlobal, downgrade, hbc, hsbc, mpp, mts medication, MtsMedication, pcu, petrochina, ptr, ryaay, ryanair, southern peru copper, SouthernPeruCopper, sun, sunoco
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