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Collagenex posts

Analyst downgrades: NVS, AIG, DEO and BEAS

MOST NOTEWORTHY: Novartis, AIG, Diageo, and BEA Systems were today's noteworthy downgrades:

HSBC downgraded Novartis (NYSE: NVS) to Underweight from Neutral, as they believe the company's mid-single digit pharma sales growth is not sustainable.
AIG (NYSE: AIG) was downgraded to Market Perform from Outperform by Keefe Bruyette due to their concerns about the company's deteriorating profit trends.
Diageo (NYSE: DEO) was lowered to Neutral from Buy by Goldman Sachs to reflect a lack of near-term catalysts.
Deutsche Bank downgraded BEA Systems (NASDAQ: BEAS) to Hold from Buy, as they believe it is likely that the acquisition will close in April.

OTHER DOWNGRADES:

MOST NOTEWORTHY: Momenta Pharmaceuticals, Interpublic Group, Lionbridge, PetroChina and Collagenex were today's noteworthy downgrades:

Deutsche Bank downgraded shares of Momenta Pharmaceuticals Inc (NASDAQ: MNTA) to Hold from Buy and lowered their target to $6 following the FDA's non-approvable letter for M-Enox.
Banc of America downgraded shares of The Interpublic Group of Companies Inc (NYSE: IPG) to Neutral from Buy to reflect the economic uncertainty and concerns regarding the company's relative revenue growth.
Lionbridge Technologies Inc (NASDAQ: LIOX) was downgraded to Sell from Neutral at Goldman Sachs following disappointing Q3 results and guidance.
Credit Suisse downgraded PetroChina Company Limited (NYSE: PTR) to Underperform from Neutral based on lack of catalysts.
Jefferies lowered its rating on Collagenex Pharmaceuticals Inc (NASDAQ: CGPI) to Hold from Buy to reflect a lack of near-term catalysts given the company's thin pipeline.

OTHER DOWNGRADES:

JP Morgan removed Cognizant Technology Solutions Corporation (NASDAQ: CTSH) from its Focus List and downgraded Performance Food Group Company (NASDAQ: PFGC) to Underweight from Overweight.
Friedman Billings downgraded Charlotte Russe Holding Inc (NASDAQ: CHIC) to Market Perform from Outperform.
Jefferies downgraded Forest Oil Corporation (NYSE: FST) to Hold from Buy.

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