MOST NOTEWORTHY:

• PepsiCo (NYSE: PEP) was cut to Neutral from Buy at Goldman based on valuation.

• Merrill downgraded Countrywide Financial (NYSE: CFC) to Sell from Buy, citing liquidity concerns in the mortgage sector as accelerated margin calls and forced asset sales could lead to further problems and selling pressure.

• KKR Financial Holdings (NYSE: KFN) was downgraded to Market Perform from Outperform at Friedman Billings based on the liquidity crisis and impact on equity. Lehman cut shares to Equal Weight from Overweight based on capital market funding concerns.

• Home Depot (NYSE: HD) was downgraded to Hold from Buy at Gabelli due to near-term uncertainty.
  

• Goldman downgraded Visteon (NYSE: VC) to Sell from Neutral...

• Credit Suisse downgraded UBS (NYSE: UBS) to Neutral from Outperform.

• Merrill cut Deutsche Bank (NYSE: DB) to Neutral from Buy.

• Bear Stearns downgraded LG Philips LCD (NYSE: LPL) to Peer Perform from Outperform.

• Keefe Bruyette downgraded Security Bank (NASDAQ: SBKC) to Underperform from Market Perform.

Analyst downgrades: CFC, HD, KFN and PEP originally appeared on BloggingStocks on Wed, 15 Aug 2007 11:32:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Banc of America downgraded shares of Andersons Inc. (NASDAQ: ANDE) to Neutral from Buy, as well as VeraSun Energy (NYSE: VSE), Pacific Ethanol (NASDAQ: PEIX) and Aventine Renewable Energy (NYSE: AVR) to Sell from Neutral. The firm believes new ethanol supply will depress ethanol's premium to gasoline, drive corn prices higher and pressure distillers' grains values.
• Novacea Inc. (NASDAQ: NOVC) was downgraded to Peer Perform from Outperform at Bear Stearns based on valuation and lack of catalysts until 2H08; the firm believes the company's deal with Schering-Plough (NYSE: SGP) is a positive.
• Aimco Properties (NYSE: AIV) was downgraded to Underweight from Equal Weight at Lehman, as the firm does not view AIV as an attractive takeover target.

• EMC Corp. (NYSE: EMC) was downgraded to Peer Perform from Outperform at Bear Stearns based on valuation.
• UBS downgraded shares of Iomai Corp. (NASDAQ: IOMI) and ICICI Bank (NYSE: IBN) to Neutral from Buy.
• Goldman Sachs downgraded Parexel Intl. (NASDAQ: PRXL) to Neutral from Buy and PRA International (NASDAQ: PRAI) to Sell from Neutral.
• Janus Capital Group (NYSE: JNS) was downgraded to Neutral from Buy at Merrill Lynch.
• Security Bank (NASDAQ: SBKC) was downgraded to Hold from Buy at Sandler, O'Neill & Partners on valuation.
• Bradley Pharmaceuticals (NYSE: BDY) was downgraded to Hold from Buy on valuation at Matrix USA.

Analyst downgrades 5-31-07: Ethanol producers to Sell originally appeared on BloggingStocks on Thu, 31 May 2007 11:39:00 EST. Please see our terms for use of feeds.