MOST NOTEWORTHY: YRC Worldwide (YRCW), BEA Systems (BEAS), Isle of Capri Casinos (ISLE), Assured Guaranty Ltd (AGO) and Avaya (AV) were today's more noteworthy downgrades:
- Wachovia downgraded YRC Worldwide (NASDAQ: YRCW) to Market Perform from Outperform citing the challenging LTL freight environment and continued integration issues.
- UBS downgraded shares of BEA Systems (NASDAQ: BEAS) to Neutral from Buy on valuation as they believe expectations for a takeover or investor activism is already priced into shares.
- Matrix believes Isle of Capri (NASDAQ: ISLE) is expensive on a performance-adjusted basis and recommends investors sell shares into the recent rally, downgrading shares to Sell from Hold.
- JMP Securities downgraded Avaya (NYSE: AV) to Market Perform from Strong Buy, as the firm doesn't expect a superior offer to the Silver Lake/TPG bid...
OTHER DOWNGRADES:
- Morgan Stanley downgraded Wynn Resorts (NASDAQ: WYNN) to Equal Weight from Overweight.
- Morgan Keegan downgraded Inter-Tel Inc (NASDAQ: INTL) to Market Perform from Outperform.
Analyst summaries provided by
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