MORE NOTEWORTHY: The aluminum sector, National City Corp (NCC), MGM Mirage (MGM) and Domtar Corp (UFS) were some of today's notable downgrades:
- Prudential downgraded the aluminum industry to Unfavorable from Favorable, cutting cut Alcoa Inc (NYSE: AA) to Neutral from Overweight and Alcan Inc (NYSE: AL) to Underweight from Overweight. Prudential cited the increased Chinese output growth and slowing U.S. demand for aluminum for the downgrades.
- Keefe Bruyette cut National City Corp (NASDAQ: NCC) to Underperform from Market Perform based on higher credit costs and near-term capital requirements.
- MGM Mirage (NYSE: MGM) was downgraded to Sell from Hold at Matrix USA citing valuation.
- Citigroup cut Domtar Corp (NYSE: UFS) to Sell from Hold with a $9 target based on valuation.
OTHER DOWNGRADES:
- Dow Chemical Co (NYSE: DOW) was removed from Credit Suisse's U.S. Focus List.
- Prudential cut Dean Foods Co (NYSE: DF) to Neutral from Buy based on valuation and volatile short-term raw milk prices.
- Barrington downgraded Cintas Corp (NASDAQ: CTAS) to Market Perform from Outperform with a $40 target based on poor Q3 earnings and lower revised guidance.
- Methanex Corp (NASDAQ: MEOH) was cut to Underperform from Market Perform at BMO Capital.
- Buffalo Wild Wings (NASDAQ: BWLD) was downgraded to Hold from Buy with a $67 target at Jefferies based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
America's 10 Highest-Paid CEOs of 2011 (and How They Earned It)
What Happened When Alex Kenjeev Paid His Student Loan in Cash
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
