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MOST NOTEWORTHY: Sunoco, Ryanair and HSBC Holdings were today's noteworthy downgrades:
  • JP Morgan downgraded Sunoco (NYSE: SUN) to Underweight from Neutral citing expected margin pressure due to high leverage to sweet crude. Goldman also downgraded shares of Sunoco to Neutral from Buy.
  • Deutsche Bank downgraded shares of Ryanair (NASDAQ: RYAAY) to Sell from Hold as they believe the European airlines sector will trade well below book value until the companies deal with higher oil prices.
  • UBS cut HSBC (NYSE: HBC) to Neutral from Buy to reflect the potential for higher losses at the company's household unit and weak performance at its U.S. bank.
OTHER DOWNGRADES:
  • Broadpoint lowered MTS Medication (NYSE: MPP) to Neutral from Strong Buy.
  • HSBC cut Southern Peru Copper (NYSE: PCU) to Neutral from Overweight.
  • Goldman downgraded CNH Global (NYSE: CNH) to Neutral from Buy and PetroChina (PTR) to Sell from Buy.

Analyst downgrades: SUN, RYAAY, HBC, MPP, PCU, CNH and HBC originally appeared on BloggingStocks on Tue, 06 May 2008 11:59:00 EST. Please see our terms for use of feeds.

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