Tax Reform in This Election Year: It's Not Likely
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MOST NOTEWORTHY: Georgia Gulf, Sohu.com and I-flow were today's noteworthy downgrades:
- Citigroup downgraded Georgia Gulf (NYSE: GGC) to Sell from Hold to reflect the deteriorating fundamentals in North American housing, and their belief that the company is increasingly likely to break its debt covenant ratio.
- Deutsche Bank downgraded shares of Sohu.com (NASDAQ: SOHU) to Hold from Buy on valuation and expects 2009 growth to be modest.
- Piper cut I-Flow (NASDAQ: IFLO) to Sell from Neutral following the weak Q1 report and guidance.
OTHER DOWNGRADES:
- Morgan Stanley downgraded Coca-Cola Femsa (NYSE: KOF) to Equal Weight from Overweight.
- Goldman removed Teva Pharma (NASDAQ: TEVA) from its Conviction Buy List.
- Aqua America (NYSE: WTR) was cut to Market Perform from Outperform at Wachovia.
- JP Morgan lowered PetroChina (NYSE: PTR) to Underweight from Neutral.
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