LsiCorp posts
FeedPosted May 1st 2007 11:06AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, General Electric (GE), Sprint Nextel Corp (S), Best Buy (BBY), Carnival Corp (CCL), Southwest Airlines (LUV), US Airways Group (LCC), AMR Corp (AMR), Contl Airlines'B' (CAL), UAL Corp (UAUA), JetBlue Airways (JBLU)
Circuit City Stores (CC), select airline stocks and General Electric (GE) were today's noteworthy downgrades:
- Citigroup downgraded shares of Circuit City Stores NYSE: CC) to Hold from Buy and lowered their target to $17 from $26 following management's second guidance cut in one month; the firm thinks there is more bad news to come. The electronics-retailer was also downgraded to Market Perform from Outperform at Raymond James and to Neutral from Buy at Robinson Humphries. Circuit City was cut to Sell from Hold at Soleil.
- General Electric (NYSE: GE) was removed from Goldman Sachs' Americas Conviction Buy list on valuation.
OTHER DOWNGRADES:
- Prudential expects Sprint Nextel Corp's (NYSE: S) company-specific problems to continue and weigh on shares and downgraded the phone-giant to Underweight from Neutral.
- Banc of America downgraded shares of LSI Corp (NYSE: LSI) to Neutral from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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MOST NOTEWORTHY: Semiconductors, ADC Telecomm and Nationwide Financial were today's noteworthy upgrades:
Comfort Zone Investing: The unmighty dollar
Five winners of a weak dollar
For a quick-read on the U.S. economy, check the price of gasoline
