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Analyst downgrades: HSY, COGN, RMD and ARTE

Posted Nov 14th 2007 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Target Corp. (TGT), Hershey Co (HSY), Rio Tinto plc ADS (RIO)

MOST NOTEWORTHY: Hershey Foods, Cognos, Resmed and Artes Medical were today's noteworthy downgrades:
  • Hershey (NYSE: HSY) was downgraded to Underperform from Peer Perform at Bear Stearns. Bear believes the new CEO will be under intense pressure to improve operating performance, which will likely lead to higher R&D and marketing spending.
  • Cognos (NASDAQ: COGN) was downgraded to Equal Weight from Overweight at Morgan Stanley following the acquisition by IBM (NYSE: IBM).
  • ABN Amro lowered its rating on Resmed (NYSE: RMD) to Hold from Buy on valuation following the recent rally.
  • Cowen downgraded Artes Medical (NASDAQ: ARTE) to Neutral from Buy following the company's disappointing Q3 report.
OTHER DOWNGRADES:

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Last updated: February 10, 2012: 11:00 PM

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