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Analyst downgrades 6-28-07: BBBY, DISK, DRIV and JNJ

Posted Jun 28th 2007 11:22AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Johnson and Johnson (JNJ), Bed Bath and Beyond (BBBY)

MOST NOTEWORTHY: Chittenden Corp (CHZ), Digital River (DRIV), Image Entertainment (DISK) and Foot Locker (FL) were today's noteworthy downgrades:

Chittenden Corp (NYSE: CHZ) was downgraded to Sell from Hold at AG Edwards based on the buyout news from People's United Financial (PBCT).

Digital River (NASDAQ: DRIV) was downgraded to Hold from Buy, and its target was cut to $44, at Jeffries based on the weak Microsoft (MSFT) ramp and weakness in the Symantec (SYMC) transition.

SMH Capital downgraded shares of Image Entertainment (NASDAQ: DISK) to Sell from Neutral and recommends investors take profits on the upside and sell shares.

Foot Locker (NYSE: FL) was downgraded to Hold from Buy at Matrix, as the firm believes fundamentals trends are turning negative; the firm sees limited upside from current levels.

OTHER DOWNGRADES:

Bed Bath & Beyond (NASDAQ: BBBY) was downgraded to Market Perform from Outperform at Raymond James.

Johnson & Johnson (NYSE: JNJ) was removed from Goldman Sachs' Americas Conviction Buy List.

Web.com (NASDAQ: WWWW) was downgraded to Hold from Buy at Roth Capital Partners.

Andrew Corp (NASDAQ: ANDW) was downgraded to Neutral from Buy at Oppenheimer.

JP Morgan downgraded shares of SkyWest (NASDAQ: SKYW) to Underweight from Overweight and shares of Republic Airways Holdings (NASDAQ: RJET) to Neutral from Overweight.

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

Analyst upgrades 6-28-07: COF, CSCO, INTC, LIZ and TRMP

Posted Jun 28th 2007 10:52AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Reports, Good news, Cisco Systems (CSCO), Intel (INTC), Trump Entertainment Resorts (TRMP), Liz Claiborne (LIZ)

MOST NOTEWORTHY: Intel (INTC), Capital One Financial (COF), Nestle (NSRGY), Cisco Systems (CSCO), Liz Claiborne (LIZ) and Trump Entertainment Resorts (TRMP) were today's noteworthy upgrades:

Lehman upgraded shares of Intel Corp (NASDAQ: INTC) to Overweight from Equal-Weight as they believe Q2 sales will meet the high-end of guidance with Dell (DELL) and Hewlett-Packard (HPQ) restocking in preparation for an improved PC market.

Friedman Billings upgraded Capital One Financial (NYSE: COF) to Outperform from Market Perform based on expected cost savings on restructuring initiatives.

Deutsche Bank upgraded shares of Nestle (OTC: NSRGY) to Buy from Hold on valuation as they believe the stock has become the cheapest among the major European food companies.

Credit Suisse upgraded Liz Claiborne (NYSE: LIZ) to Outperform from Neutral expecting management at its July 11th investor meeting to have a significant announcement regarding strategic alternatives for a large number of its brands.

Merrill Lynch upgraded Cisco Systems (NASDAQ: CSCO) to Buy from Neutral as they believe Q4 expectations could be exceeded due to strong business demand. The broker finds shares inexpensive and also added CSCO to its U.S. 1 List.