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Analyst downgrades: EMC, ACGY, CASY, WGOV, SEE and COCO

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MOST NOTEWORTHY: Acergy, Casey's General and Corinthian Colleges were today's noteworthy downgrades:
  • Citigroup downgraded shares of Acergy (NASDAQ: ACGY) to Sell from Hold as they see risk to the company's backlog and believes the recent share rally is not supported by business operations.
  • Casey's General (NASDAQ: CASY) was downgraded at Friedman Billings to Underperform from Market Perform citing headwinds that include weak gas comps.
  • Banc of America downgraded shares of Corinthian Colleges (NASDAQ: COCO) to Neutral from Buy as they believe the post-legislation lending overhang will limit further share upside until COCO can show its students can access federal funds with minimal disruption.
OTHER DOWNGRADES:
  • Bernstein cut EMC Corp (NYSE: EMC) to Market Perform from Outperform.
  • Baird lowered Woodward Governor (NASDAQ: WGOV) to Neutral from Outperform.
  • Merrill downgraded Sealed Air (NYSE: SEE) and Bemis (BMS) to Sell from Neutral.
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Last updated: November 14, 2009: 01:11 PM

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