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Analyst downgrades 4-27-07: CVX, JNPR, SIRI, SYMC and WEN downgraded today

Posted Apr 24th 2007 11:31AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Sirius Satellite Radio (SIRI), Chevron Corp (CVX), Wendy's Intl (WEN), Symantec Corp (SYMC), Juniper Networks (JNPR)

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.

Friedman Billings downgraded L-3 Communications Holdings, Inc (NYSE: LLL) to Market Perform from Outperform.

MedImmune, Inc (NASDAQ: MEDI) was downgraded to Equal Weight from Overweight at Lehman.

Hecla Mining Co (NYSE: HL) was cut to Sector Underperformer from Sector Performer at CIBC based on valuation.

Merrill Lynch cut Wendy's International (NYSE: WEN) to Sell from Neutral.

Stanford downgraded shares of Sirius Satellite Radio Inc (NASDAQ: SIRI) to Hold from Buy with a $3 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 3-06:07: National City & Pathmark Stores downgraded

Posted Mar 6th 2007 10:47AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News

MOST NOTEWORTHY: Some of today's notable downgrades were National City Corp (NCC), Aeroflex Inc (ARXX) and Compass Minerals International (CMP):

Morgan Stanley cut National City Corp (NYSE: NCC) to Underweight from Equal-Weight with and $35 target to reflect increased losses on the company's remaining subprime loans and slower growth in the Midwest.

AG Edwards downgraded Aeroflex Inc (NASDAQ: ARXX) to Sell from Buy to reflect the company's acquisition agreement.

Matrix USA cut Compass Minerals Int'l (NYSE: CMP) to Strong Sell from Buy to reflect weak demand for deicing products.

OTHER DOWNGRADES:

CIBC downgraded Pathmark Stores Inc (NASDAQ: PTMK) to Sector Perform from Outperformer based on the Great Atlantic & Pacific Tea Co (NYSE: GAP) acquisition.

UBS cut Apria Healthcare Group Inc (NYSE: AHG) to Reduce from Neutral on valuation.

Goldman Sachs downgraded Progressive Gaming International Corp (NASDAQ: PGIC) and Strategic Hotels & Resorts Inc (NYSE: BEE) to Sell from Neutral.