Analyst downgrades: TXN, SNDK and BRCD

MOST NOTEWORTHY: Texas Instruments, SanDisk and Brocade were today's noteworthy downgrades:

Merrill Lynch downgraded shares of Texas Instruments (NYSE: TXN) to Neutral from Buy after the company reported lower-than-expected Q3 results due to concerns regarding elevated inventory levels and rising raw material and labor costs. Merrill lowered their target to $27 from $32.
Citigroup cut SanDisk (NASDAQ: SNDK) to Sell from Hold after the company reported a Q2 miss and offered lower-than-expected guidance. Citigroup lowered their target price to $14 from $20.
JMP Securities downgraded Brocade (NASDAQ: BRCD) to Market Perform from Outperform following the company's announcement to buy Foundry Networks, Inc. (NASDAQ: FDRY) for $19.25 per share.

OTHER DOWNGRADES:

ArthroCare (NASDAQ: ARTC) was lowered to Market Perform from Outperform at William Blair.
JP Morgan downgraded Assured Guaranty (NYSE: AGO) and Lenovo Group (LNVGY) to Neutral from Overweight.
iStar Financial (NYSE: SFI) was downgraded to Sell from Buy at UBS.
Goldman removed Gilead Sciences (NASDAQ: GILD) from the Conviction Buy List.

Tags: ago, artc, brcd, fdry, gild, inthenews, sfi, sndk, txn

#	Blogger	Posts	Cmts
1	Joseph Lazzaro	64	0
2	Steven Mallas	47	0
3	Connie Madon	47	0
4	Mark Fightmaster	44	0
5	Steven Halpern	40	0
6	Zac Bissonnette	38	0
7	Tom Johansmeyer	38	0
8	Tom Taulli	33	0
9	Brian White	28	0
10	Sheldon Liber	26	0
11	Melly Alazraki	25	0
12	Paul Foster	24	0
13	Jim Cramer	23	0
14	Eric Buscemi	21	0
15	Jon Ogg	21	0
16	Elizabeth Harrow	20	2
17	Brent Archer	20	0
18	Michael Fowlkes	16	0
19	Trey Thoelcke	15	0
20	James Cullen	12	0

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

Other Weblogs Inc. Network blogs you might be interested in:

Eddie Bauer sells to Golden Gate Capital for $286 million CIT seeks private capital after bailout bid is rejected Digital Sky to put another $100 million into Facebook	Google does decent business in Q2 -- trade it now? Google Q2 will be shaped by demand ... and Bing Microsoft's new Office product to compete for free with Google Docs
Complete Yale courses now on iTunes U Two ways to sync iTunes to your Pre, but not for free Use iCal to tweet automatically	GButts adds every Google service imaginable to your Firefox navbar BridgeCraft - Time Waster Yammer releases new desktop client for Twitter-like business app
$1,300 Springbank 40 Year Single Malt Old Short Hills New Jersey, Estate of the Day Ritmo Mundo Sex And The City Watch Collection	Google does decent business in Q2 -- trade it now? Before the bell: Stocks to put on the breaks following BAC, GE reports Google Q2 will be shaped by demand ... and Bing