MOST NOTEWORTHY: ConocoPhillips (COP), Transocean (RIG), LifePoint Hospitals (LPNT), EOG Resources (EOG) and Quicksilver Resources (KWK) were today's noteworthy downgrades:
- Banc of America cut ConocoPhillips (NYSE: COP) to Neutral from Buy on valuation and the lack of upstream catalysts.
- Deutsche Bank cut Transocean (NYSE: RIG) to Hold from Buy based on the GlobalSantaFe (GSF) merger.
- Raymond James downgraded LifePoint Hospitals (NASDAQ: LPNT) to Market Perform from Strong Buy following the company's cut in guidance. Merrill Lynch downgraded LifePoint Hospitals to Neutral from Buy.
- Citigroup downgraded EOG Resources (NYSE: EOG) and Quicksilver Resources (NYSE: KWK) to Sell from Hold as both trade above the sector averages for NAV and cash flow and neither is well protected in the likely event commodity prices deteriorate...
OTHER DOWNGRADES:
- BMO Capital downgraded Biovail (NYSE: BVF) to Market Perform from Outperform.
- Wedbush downgraded Cosi Inc (NASDAQ: COSI) to Hold from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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