Analyst upgrades:

• UBS upgraded McDonald's (NYSE:MCD) to Buy from Neutral based on expectations the it can deliver on 2009 EPS expectations and potential for accelerating share gains.
  
• Bernstein upgraded Nokia (NYSE:NOK) to Outperform from Underperform on valuation following the company's profit warning. Merrill upgraded shares to Buy from Neutral to reflect valuation and Nokia's new product portfolio. Shares were also upgraded to Hold from Sell at WestLB.
  
• B. Riley raised UCBH Holdings (NASDAQ:UCBH) to Buy from Neutral to reflect the improved valuation and the company's stronger capital position provided by the US Treasury investment.
• Parexel (NASDAQ:PRXL) was upgraded to Buy from Hold at Jefferies.
  
• CTS Corp (NYSE:CTS) was lifted to Neutral from Underweight at JP Morgan.
  
• Hospitality Properties (NYSE:HPT) was upgraded to Equal Weight from Underweight at Morgan Stanley.

• Soleil downgraded Disney (NYSE:DIS) to Hold from Buy to reflect the weakening macro-economic outlook and their belief consensus estimates may be too high. The firm lowered their target to $23 from $40.
  
• Merrill downgraded Dell (NASDAQ:DELL) to Neutral from Buy on expectations PC sales will decline next year amid the slowing economy. The firm lowered Dell's target price to $13 from $22.
  
• Jefferies cut MDS Inc (NASDAQ:MDZ) to Hold from Buy to reflect slowing demand and a lack of catalysts to unlock the company's assets. The firm lowered their target to $10.50 from $15.
• Alcoa (NYSE:AA) was lowered to Neutral from Buy at UBS.
• Tesco PLC (Other OTC:TSCDY) was downgraded at JP Morgan to Underweight from Neutral.
  
• Merrill downgraded SAP AG (NYSE:SAP) to Neutral from Buy.
  
• Goldman added Altera (NASDAQ:ALTR) to the Conviction Sell List.

• Citigroup thinks AutoZone (NYSE:AZO) will benefit from the slowdown in car sales and thinks the recent pullback is overdone. Shares were initiated with a Buy rating and $146 target.
• Citigroup also believes Advance Auto Parts (NYSE:AAP) will benefit from the slowdown in car sales and started shares with a Buy rating and $35 target.
  
• After Sunway (OTCBB:SUWG) reported higher than expected revenue, Roth Capital thinks the company is poised for substantial growth, but the firm thinks its remaining warrants may keep the shares trading at a modest valuation for a significant amount of time. The firm started shares with a Hold rating and $3.60 target.
• Mechel Steel (NYSE:MTL) was initiated with a Neutral rating at Merrill Lynch.
  
• China Life Insurance (NYSE:LFC) was assumed with a Buy rating at UBS.
  
• Gap (NYSE:GPS) was started at Cowen with a Neutral rating.

Analyst upgrades, downgrades and initiations: MCD,NOK, DIS, DELL, AA, originally appeared on BloggingStocks on Mon, 17 Nov 2008 12:42:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Keefe Bruyette upgraded MetLife (NYSE: MET) to Outperform from Market Perform as they believe the company's capital and liquidity profile are very solid relative to this week's sell-off.
  
• The firm also upgraded shares of MSCI (NYSE: MXB) to Outperform from Market Perform on valuation as they believe near-term challenges are already priced into shares.
  
• Burlington Northern (NYSE: BNI) was raised to Overweight from Neutral at JP Morgan based on valuation and strong pricing outlook.
• Costco (NASDAQ: COST) was upgraded to Buy from Neutral at Goldman.
  
• Pali Capital lifted Virgin Mobile (NYSE: VM) to Neutral from Sell.
  
• Merrill upgraded Pall (NYS: PLL) and Xcel Energy (NYSE: XEL) to buy from Neutral.

• Oppenheimer downgraded shares of Trimble Navigation (NASDAQ: TRMB) to Perform from Outperform as they believe the company's Engineering and Construction division is facing a challenging period due to the credit market strain.
  
• Stephens downgraded Seacoast Banking (NASDAQ:SBCF) to Underweight from Equal Weight as they believe a dilutive capital raise is possible given future losses from real estate credits in coastal Florida.

Continue reading Analyst upgrades, downgrades and initiations: MET, COST, WAG, CAG...

Analyst upgrades, downgrades and initiations: MET, COST, WAG, CAG... originally appeared on BloggingStocks on Fri, 03 Oct 2008 11:50:00 EST. Please see our terms for use of feeds.

• Oppenheimer upgraded shares of National City (NYSE: NCC) to Outperform from Perform on valuation as they believe the bank is not seeing a mass exodus of depositors.
  
• Wachovia upgraded Brookfield Infrastructure (NYSE: BIP) to Outperform from Market Perform due to what the firm sees as the company's solid cash flow growth outlook, strong balance sheet, and discounted valuation.
  
• Baird upgraded Tellabs (NASDAQ: TLAB) to Outperform from Neutral citing valuation and improving 2009 prospects from 8800, 8600, and 7100 products and better Opex management..
• Take-Two (NASDAQ: TTWO) was upgraded to Outperform from Neutral at Cowen.
  
• UBS raised Nortel Networks (NYSE: NT) to Buy from Neutral.
  
• Borg-Warner (NYSE: BWA) was raised to Buy from Hold at Keybanc.

• Merriman downgraded shares of TheStreet.com (NASDAQ: TSCM) and Bankrate (NASDAQ: RATE) to Neutral from Buy to reflect concerns about display advertising trends and the company's above average exposure to the financial vertical.
  
• Baird downgraded Monaco Coach (NYSE: MNC) to Neutral from Outperform and Thor Industries (NYSE: THO) and Winnebago Industries (NYSE: WGO) to Underperform from Neutral citing valuations and checks that indicate "dreadful" fundamentals.
  
• RBC Capital downgraded Apple (NASDAQ: AAPL) to Sector Perform from Outperform citing weakening consumer spending, reduced visibility, and risks to valuation. The company's target was lowered to $140 from $200.

Continue reading Analyst calls: AAPL, NCC, NT, TLAB, TTWO, TSCM, HOT, CHK ...

Analyst calls: AAPL, NCC, NT, TLAB, TTWO, TSCM, HOT, CHK ... originally appeared on BloggingStocks on Mon, 29 Sep 2008 12:46:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Morgan Keegan upgraded Marvell Tech (NASDAQ: MRVL) to Outperform from Market Perform based on valuation and sustainable growth.
  
• Merrill upgraded Lehman (NYSE: LEH) to Neutral from Underperform and said the government bailout of the GSE's removes "considerable uncertainty" in the residential mortgage markets and that the housing market is now closer to a bottom. The analyst believes the environment has improved for Lehman to attract equity capital needed and that loss expectations are reflected in valuation.
• Friedman Billings upgraded Zions Bancorp (NASDAQ: ZION) and UCBH Holdings (NASDAQ: UCBH) to Outperform from Market Perform.

• Lehman downgraded shares of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) to Equal Weight from Overweight after the U.S. government said it will place Fannie and Freddie into a conservatorship. Citigroup also downgraded shares to Sell from Buy following the federal government's plan to place the GSEs into conservatorship as they believe both Fannie and Freddie will no longer be managed to maximize common shareholder returns.
  
• Nokia (NYSE: NOK) was cut to Hold from Buy at Deutsche Bank. The firm downgraded shares following the company's guidance reduction and believes the forecast could still be optimistic.

Continue reading Analyst calls: MRVL, LEH, FNM, FRE, NOK, PETM ...

Analyst calls: MRVL, LEH, FNM, FRE, NOK, PETM ... originally appeared on BloggingStocks on Mon, 08 Sep 2008 12:23:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Merrill upgraded Schering-Plough (NYSE: SGP) to Buy from Neutral citing the company's better near-term pipeline outlook with two potential blockbusters to be approved over the next year. Schering-Plough's target was raised to $23 from $20.
• Morgan Stanley lifted RadioShack (NYSE: RSH) and Texas Roadhouse (NASDAQ: TXRH) to Equal Weight from Underweight.

• Jefferies downgraded shares of Hologic (NASDAQ: HOLX) to Hold from Buy as they see limited near-term catalysts after the company reported a Q3 miss and lowered top-line guidance for FY08. The firm lowered their target to $24 from $28.
  
• Baird downgraded California Pizza (NASDAQ: CPKI) to Neutral from Outperform as they see limited near-term upside given the uncertain 2H08/2009 outlook. The company's target was lowered to $15 from $17.
  
• JP Morgan downgraded Jones Lang LaSalle (NYSE: JLL) and CB Richard Ellis (NYSE: CBG) to Neutral from Overweight due to the continued challenging economic environment.

• BC Capital initiated Dollar Financial(NYSE: DLLR) with an Outperform rating and $24 target. The firm likes Dollar's geographically diversified business and valuation.

Analyst upgrades, downgrades and initiations originally appeared on BloggingStocks on Thu, 31 Jul 2008 11:46:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Thomas Weisel downgraded shares of Varian (NASDAQ:VARI) to Market Weight from Overweight following the company's Q3 results to reflect manufacturing relocation issues and the slowdown in organic growth. The firm lowered their target to $47 from $70.
  
• Jefferies cut Chipotle Mexican Grill (NYSE:CMG) to Hold from Buy following the company's in-line Q2 results, as they believe consumer headwinds and commodity inflation are likely to pressure EPS in coming quarters. The firm lowered their target to $80 from $100.
  
• Deutsche Bank downgraded McDonald's (NYSE:MCD) to Hold from Buy as they believe higher beef costs and slower traffic could drive reduced profitability and limit upside. The firm reduced their target to $63 from $67.

• AT&T (NYSE:T) was lowered to Neutral from Overweight at JP Morgan.
  
• Baird cut Citrix Systems (NASDAQ:CTXS) to Neutral from Outperform.
  
• Raymond James (NYSE:RJF) was lowered to Market Perform from Outperform at Wachovia.

Analyst downgrades: VARI, CMG and MCD originally appeared on BloggingStocks on Thu, 24 Jul 2008 11:20:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Thomas Weisel downgraded shares of eBay (NASDAQ:EBAY) following the company's Q2 results, as they did not see an improvement in the underlying fundamentals. Goldman lowered eBay to Neutral from Buy and cut its target to $30 from $38.
  
• UBS downgraded Wells Fargo (NYSE:WFC) to Neutral from Buy citing valuation and reduced capital flexibility.
  
• Merrill downgraded shares of ASML Holdings (NASDAQ:ASML) to Underperform from Neutral as they believe the company's demand slowdown could carry into next year.

• Starbucks (NASDAQ:SBUX) was cut to Neutral from Buy at Piper.
  
• Wachovia downgraded Ashford Hospitality Trust (NYSE:AHT) and Strategic Hotels & Resorts (NYSE:BEE) to Underperform from Market Perform.
  
• AMB Property (NYSE:AMB) was lowered at JP Morgan to Neutral from Overweight.

Analyst downgrades: EBAY, WFC and ASML originally appeared on BloggingStocks on Thu, 17 Jul 2008 11:02:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Morgan Stanley downgraded Bank of America (NYSE:BAC) to Underweight from Equal Weight as they believe the company may need to raise an additional $12B in capital in Q4 and cut its dividend by 20%.
  
• Citigroup cut Entercom Comm (NYSE:ETM) to Sell from Hold as they see near-term downside risk for radio stocks given the weaker economic backdrop and underperforming radio ad spend. The firm lowered their target to $5 from $9.75.
  
• Merriman downgraded Opnext (NASDAQ:OPXT) to Neutral from Buy following the acquisition of Stratalight, as they believe the deal is too stock heavy given the current valuation and has concerns about competition in the 40G market.

• Columbia Banking (NASDAQ:COLB) was downgraded to Market Perform from Outperform at Keefe Bruyette.
  
• Deutsche Bank cut Luxottica (NYSE:LUX) to Hold from Buy. Cadbury (NYSE:CBY) was lowered at Merrill to Underperform from Neutral.

Analyst downgrades: BAC, ETM and OPXT originally appeared on BloggingStocks on Thu, 10 Jul 2008 11:18:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan downgraded Nvidia (NASDAQ:NVDA) to Neutral from Overweight following the company's lowered guidance.
  
• Deutsche Bank cut Air France (Other OTC:AFLYY) to Sell from Hold as they believe consensus revenue estimates need to come down.
  
• Following UnitedHealth's (NYSE:UNH) lowered guidance, UBS said there is "little hope" for improvement in 2009 and that the company has above average exposure to the Medicare segment, which is being politically pressured. UBS downgraded shares to Neutral from Buy.

• Aetna (NYSE:AET) and Health Net (NYSE:HNT) were downgraded to Sell from Neutral at Goldman.
• Dice Holdings (NYSE:DHX) was lowered at Wachovia to Market Perform from Outperform.
  
• Zhone (NASDAQ:ZHNE) was downgraded to Source of Funds from Buy at ThinkPanmure.

Analyst downgrades: NVDA, AFLYY and UNH originally appeared on BloggingStocks on Thu, 03 Jul 2008 11:40:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Deutsche Bank downgraded shares of McClatchy (NYSE:MNI) to Sell from Hold after transferring analyst coverage as they believe leverage issues will continue to pressure the stock.
  
• Jefferies downgraded shares of Ansys (NASDAQ:ANSS) to Hold from Buy on valuation and their belief that a slow U.S. manufacturing economy may be impacting sales cycles at the margin.
  
• Fortune Brands (NYSE:FO) was lowered to Market Perform from OUtperform at Wachovia following its lowered 2008 outlook.

• Goldman removed ArvinMeritor (NYSE:ARM) and NYSE Euronext (NYSE:NYX) from the Conviction Buy List.
  
• Citigroup cut BJ Services (NYSE:BJS) and Weatherford (NYSE:WFT) to Hold from Buy.

Analyst downgrades: MNI, ANSS and FO originally appeared on BloggingStocks on Tue, 01 Jul 2008 11:21:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Goldman downgraded U.S. Brokers to Neutral from Attractive since they can not find a catalyst to move the group significantly higher over the next few months given the continued deterioration in fundamentals. Goldman added Citigroup (NYSE:C) to their Conviction Sell List as they expect additional write-downs of $8.9B in Q2 and see the potential for additional capital raises. Goldman lowered their target price on Citigroup shares to $16 and recommends a pair trade of long Morgan Stanley (NYSE:MS), short Citigroup.
  
• Wachovia downgraded Goldman Sachs (NYSE:GS) shares to Market Perform from Outperform on renewed economic fears, a likely slower pace of substantial capital raises, seasonally slower prime brokerage, and valuation.
  
• Research in Motion (NASDAQ:RIMM) was cut to Market Perform from Outperform at JMP Securities following the weaker-than-expected Q1 report and guidance and lowered FY09 EPS estimates on increased spending.

• Red Hat (NYSE:RHT) was downgraded to Market Weight from Overweight at Thomas Weisel.
  
• JP Morgan lowered British Sky Broadcasting (NYSE:BSY) to Underweight from Overweight.
  
• WuXi Pharma (NYSE:WX) was downgraded at Oppenheimer to Perform from Outperform.
  
• General Motors (NYSE:GM) was downgraded at Goldman to Sell from Neutral.

Analyst downgrades: U.S. brokers, GS and RIMM originally appeared on BloggingStocks on Thu, 26 Jun 2008 11:36:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Credit Suisse downgraded shares of UBS (NYSE:UBS) to Neutral from Outperform as they believe UBS will have difficulty rebuilding the franchise and do not expect a quick recovery for its private bank unit.
  
• Wachovia downgraded Coventry Health (NYSE:CVH) to Market Perform from Outperform citing concerns regarding visibility around higher than expected inpatient/outpatient costs following reduced 2008 guidance.
  
• UBS downgraded Express Scripts (NASDAQ:ESRX) and Medco Health to Neutral from Buy citing the Pfizer (NYSE:PFE)/Ranbaxy settlement, which reduces the likelihood of a generic Lipitor launch in 2010.

• Goldman downgraded ENI SpA (NYSE:E) to Neutral from Buy and removed the stock from the Pan-Europe Conviction Buy List.
  
• Huntsman (NYSE:HUN) was downgraded to Underperform from hold at Jefferies.
  
• Commercial Metals (NYSE:CMC) was cut at Citigroup to Hold from Buy.

Analyst downgrades: UBS, CVH and ESRX originally appeared on BloggingStocks on Thu, 19 Jun 2008 10:38:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Jefferies downgraded shares of Lubrizol (NYSE:LZ) to Hold from Buy as they expect persistent raw material cost pressures to limit upside over the next few quarters. The firm lowered their target price to $60 from $65.
  
• Citigroup cut BioMarin (NASDAQ:BMRN) to Hold from Buy after their survey indicated an upside surprise from the Kuvan launch is unlikely. The firm lowered their target price to $37 from $42.
  
• HSBC downgraded shares of Novartis (NYSE:NVS) to Underweight from Neutral following the company's stake in Alcon (NYSE:ACL) as they believe it dilutes the company's return on assets.

• Goldman removed Waste Management (NYSE:WMI) from its Conviction Buy List.
  
• Thomas Weisel downgraded Kinross Gold (NYSE:KGC) to Market Weight from Overweight.
  
• Dreamworks Animation (NYSE:DWA) was lowered at UBS to Sell from Neutral.
  
• JP Morgan downgraded Martha Stewart (NYSE:MSO) to Neutral from Overweight.

Analyst downgrades: LZ, BMRN and NVS originally appeared on BloggingStocks on Thu, 12 Jun 2008 11:21:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan downgraded Allegheny Tech (NYSE:ATI), Carpenter Tech (NYSE:CRS) and Haynes (NASDAQ:HAYN) to Neutral from Overweight based on the decline in nickel prices and its impact on nickel-based metals demand on valuation, as they find the risk/reward less attractive following the recent rally and increased raw material costs.
  
• Oppenheimer downgraded shares of Motorola (NYSE:MOT) to Underperform from Perform after channel checks indicated the company could miss Q2 handset guidance and continued market share losses.
• UBS said the risk/reward profile for owning Machinery stocks given macro challenges and valuations. The firm downgraded Caterpillar (NYSE:CAT) and Kennametal (NYSE:KMT) to Sell from Neutral and United Rentals (NYSE:URI) and RSC Holdings (NYSE:RRR) to Neutral from Buy. Additionally, shares of Paccar (NASDAQ:PCAR) were cut to Sell from Neutral and Navistar (OTC:NAVZ) was downgraded to Neutral from Buy due to weak U.S. truck demand.
  

• Jefferies cut Hercules Inc (NYSE:HPC) to Hold from Buy.
  
• Goldman downgraded Pfizer (NYSE:PFE) and DirecTV (NASDAQ:DTV) to Neutral from Buy.
  
• Regeneron (NASDAQ:REGN) was downgraded to Neutral from Outperform at Credit Suisse.

Analyst downgrades: ATI, CRS, HAYN, MOT and Machinery stocks originally appeared on BloggingStocks on Thu, 05 Jun 2008 11:20:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup downgraded shares of J Crew (NYSE:JCG) to Sell from Hold following the company's lowered guidance as they expect slowing sales to push shares lower. The firm cut their target to $34 from $42. Wachovia downgraded J Crew to Market Perform from Outperform based on lower growth rate forecast, sourcing costs, and competitive pressures.
  
• Ryanair (NASDAQ:RYAAY) was cut to Neutral from Buy at UBS to reflect the rise in fuel costs and lower face prices.
  
• RBC Capital downgraded Sigma Designs (NASDAQ:SIGM) to Sector Perform from Outperform following the Q1 report and cited pricing pressure.

• Piper downgraded Costco (NASDAQ:COST) to Neutral from Buy.
  
• Ashland (NYSE:ASH) was cut at JP Morgan to Underweight from Neutral.
  
• Friedman Billings cut Southwestern Energy (NYSE:SWN) to Market Perform from Outperform and removed the stock from the Top Picks list.

Analyst downgrades: JCG, RYAAY and SIGM originally appeared on BloggingStocks on Fri, 30 May 2008 11:16:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup downgraded shares of Shanda Interactive (NASDAQ:SNDA) to Hold from Buy following the company's lower-than-expected guidance as they see a lack of positive catalysts.
  
• Merrill downgraded Evergreen Solar (NASDAQ:ESLR) and SunPower (NASDAQ:SPWR) to Sell from Neutral citing a potential reduction in German tariffs.
  
• Morgan Stanley downgraded Marriott (NYSE:MAR) to Equal Weight from Overweight citing economic pressures on business travel.

• Vivus (NASDAQ:VVUS) was downgraded at Wachovia to Market Perform from Outperform.
  
• UBS lowered Juniper(NASDAQ:JNPR) to Neutral from Buy.
  
• Cemex (NYSE:CX) was downgraded to Neutral from Overweight at JP Morgan.

Analyst downgrades: SNDA, ESLR, SPWR and MAR originally appeared on BloggingStocks on Thu, 29 May 2008 11:12:00 EST. Please see our terms for use of feeds.

If you have children in elementary school, then you know Scholastic Corporation (NASDAQ: SCHL), operator of the annnual school book fair. Scholastic does an excellent job publishing high-quality children's literature and other educational materials. If only it could do so at a profit. Scholastic has been the U.S. publisher for the Harry Potter series these past few years. But even during the height of Pottermania, Scholastic did not turn much of a profit. This year is no exception. The company recently released 3Q 2008 results. Revenue increased $12 million to $458 million, yet losses continue to widen to $4.6 million for the quarter in which there was no Harry Potter release.

YTD 2008 figures show revenue increased 20% and net income more than doubled due to the last Harry Potter release in the previous quarter. Yet YTD net loss now totals $9.3 million or $0.24 per share compared to net income of $20.5 million in the previous year. To be fair, Scholastic has taken huge losses -- $82 million in Q3 2008 alone -- to exit its direct-to-home sales channel. This led to a $77.5 million net loss in Q3. But even with all business segments "performing solidly," according to CEO Richard Robinson, the company continues to bleed money.

Bloomsbury Publishing PLC, the British publisher of Harry Potter, recently reported robust sales and profit from Harry Potter books. Given that Scholastic also published this year's Caldecott Medal winner, Brain Selznick's The Invention of Hugo Cabret, why is the company still drownding in red ink? S&P Equity downgraded the comapny from Buy to Hold.

Scholastic (SCHL) not so bright originally appeared on BloggingStocks on Thu, 03 Apr 2008 15:18:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup downgraded shares of Target (NYSE:TGT) to Sell from Hold as they believe the company could continue to face macro headwinds, credit deterioration, and merchandising pressures. They also see increased risk with Target's credit card portfolio.
  
• JMP Securities cut Novatel Wireless (NASDAQ:NVTL) to Market Perform from Outperform citing mixed Q4 results and guidance.
  
• Emageon (NASDAQ:EMAG) was downgraded to Market Perform from Outperform at Friedman Billings following its weak Q4 report and guidance.

• Goldman downgraded Norsk Hydro (NHYDY) to Neutral from Buy and removed shares from their Pan-Europe Buy List.
  
• Oppenheimer lowered SunTrust Banks (NYSE:STI) to Underperform from Perform.
  
• PetMed Express (NASDAQ:PETS) was downgraded to Sell from Neutral at Piper Jaffray.

Analyst downgrades: TGT, NVTL and EMAG originally appeared on BloggingStocks on Thu, 21 Feb 2008 11:03:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Deutsche Bank downgraded UBS AG (NYSE:UBS) to Hold from Buy following the company's earnings reports to reflect its large new risk exposures.
  
• Citigroup lowered Network Appliance (NASDAQ:NTAP) to Hold from Buy, as they believe the company's lackluster outlook will weigh on shares in the near-term.
  
• Semiconductors Micron Tech (NYSE:MU) and Novellus (NASDAQ:NVLS) were downgraded to Sell from Neutral at Goldman citing expectations of excess DRAM supply.

• Goldman removed Intel (NASDAQ:INTC) from its Conviction Buy List.
  
• JP Morgan lowered Knot Inc (NASDAQ:KNOT) to Neutral from Overweight.
  
• Morgan Stanley lowered Boardwalk Pipeline (NYSE:BWP) to Equal Weight from Overweight.

Analyst downgrades: UBS, NTAP and Semiconductors originally appeared on BloggingStocks on Thu, 14 Feb 2008 10:58:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Deutsche Bank downgraded shares of Yum! Brands (NYSE:YUM) to Hold from Buy and lowered their target to $37 from $43 on valuation and believes 2008 estimates reflect "lofty" expectations.
  
• Jefferies downgraded shares of Adobe (NASDAQ:ADBE) to Underperform from Buy and lowered their target to $30 from $50 following channel checks, as they believe business has decelerated more than expected in January. Jefferies is concerns the slowing consumer will negatively compound the end of the CS3 cycle.
  
• Banc of America downgraded shares of Polo Ralph Lauren (NYSE:RL) to Neutral from Buy and lowered their target to $63 from $90, as they believe the tough macro environment will pressure US wholesale revenues in 2008.

• Deutsche Bank downgraded Monster (NASDAQ:MNST) to Hold from Buy.
  
• UBS (NYSE:UBS) was downgraded to Underweight from Equal Weight at Morgan Stanley.
  
• Soleil downgraded Accuray (NASDAQ:ARAY) to Hold from Buy.

Analyst downgrades: YUM, ADBE and RL originally appeared on BloggingStocks on Thu, 31 Jan 2008 11:49:00 EST. Please see our terms for use of feeds.