MOST NOTEWORTHY: Eli Lilly (LLY) and L-3 Communications (LLL) were the only notable downgrades today:
- HSBC downgraded Eli Lilly & Co. (NYSE:LLY) to Neutral from Overweight.
- Following the loss of the Army Linguist contract, Credit Suisse downgraded L-3 Communications Hldgs Inc. (NYSE:LLL) to Neutral from Outperform with an $83 target.
OTHER DOWNGRADES:
- Cooper Companies Inc. (NYSE:COO) was downgraded to Underweight from Neutral, with a $42 target at Prudential; they believe another reduction in 2007 guidance is likely and, additionally, the company is likely to lose additional market share in the Toric market.
- Credit Suisse, seeing potential risk to production targets at Murphy Oil Corp. (NYSE:MUR), downgraded the company to Underperform from Neutral.
- RBC Capital Markets downgraded Sovereign Bancorp Inc. (NYSE:SOV) to Underperform from Sector Perform based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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