MOST NOTEWORTHY: Best Buy (BBY) and Oracle (ORCL) were today's most notable downgrades:
- William Blair downgraded Best Buy Co. Inc. (NYSE:BBY) to Market Perform from Outperform, expecting a slowing down in growth from advanced TV, a difficult competitive environment and cyclicality of consumer electronics spending in 2007;
- First Albany downgraded Oracle Corp. (NASDAQ:ORCL) to Neutral from Buy, citing valuation and a likely slowing down in growth within two-to-three quarters.
OTHER DOWNGRADES:
- Baird downgraded Forward Air Corp. (NASDAQ:FWRD) to Neutral from Outperform, citing weak near-term truck freight trends and economic uncertainty.
- EnCana Corp (NYSE:ECA) was downgraded to Sell from Hold at Citigroup to reflect the disappointing 2007 guidance with 1% overall production growth, as well as cost run-up and concerns of portfolio quality.
- Following poor second-quarter earnings and light third-quarter guidance, Baird downgraded Tektronix Inc. (NYSE:TEK) to Neutral from Outperform and a $33 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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MOST NOTEWORTHY: Fluor, Forward Air and McDermott were today's noteworthy upgrades:
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