Analyst downgrades: BJ, AMG and YHOO

MOST NOTEWORTHY: BJ's Wholesale, Affiliated Managers and Yahoo! were today's noteworthy downgrades:

Citigroup downgraded shares of BJ's Wholesale (NYSE: BJ) to Hold from Buy on valuation and views a takeout as less likely given the current credit market conditions.
Wachovia downgraded shares of Affiliated Managers (NYSE: AMG) to Market Perform from Outperform as they believe credit quality concerns and record commodity prices will hinder the company's recovery in equity flows.
Thomas Weisel downgraded Yahoo! (NASDAQ: YHOO) to Underweight from Market Weight based on visibility into fundamentals and another potential reorganization that will likely be met with skepticism.

OTHER DOWNGRADES:

Third Wave (NASDAQ: TWTI) was cut to Neutral from Outperform at Baird.
Charles Rivers Labs (NYSE: CRL) was lowered at Goldman to Neutral from Buy.
United Parcel Service (NYSE: UPS) was downgraded at Baird to Neutral from Outperform.
SAIC, Inc (NYSE: SAI) was downgraded to Neutral from Overweight at JP Morgan.

Tags: amg, bj, crl, sai, twti, ups, yhoo

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