MOST NOTEWORTHY: AstraZeneca plc (AZN), Aeroflex Inc (ARXX), Symantec Corp (SYMC), Chevron Corp (CVX) and Exxon Mobil Corp (XOM) were just some of today's noteworthy downgrades:
- HSBC downgraded shares of AstraZeneca plc (NYSE: AZN) to Neutral from Overweight as the firm believes investors will have to wait until 2009 for the company to start benefiting from its strategy.
- Aeroflexx Inc (NASDAQ: ARXX) was cut to Hold from Buy at Jefferies with a $14 target based on valuation.
- Thomas Weisel downgraded shares of Symantec Corp (NASDAQ: SYMC) to Market Weight from Overweight citing a lack of near-term catalysts and increased risk from transitions in its business model.
- Chevron Corp (NYSE: CVX) was removed from AG Edwards' Focus Portfolio. The firm believes Chevron offers less upside potential than other companies in the sector.
- Exxon Mobil (NYSE: XOM) was downgraded to Hold from Buy on valuation and its balanced risk/reward profile...
OTHER DOWNGRADES:
- Piper Jaffray cut Juniper Networks, Inc (NASDAQ: JNPR) to Market Perform from Outperform with a $20 target.
- Hecla Mining Co (NYSE: HL) was cut to Sector Underperformer from Sector Performer at CIBC based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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