MOST NOTEWORTHY: AutoNation (AN), Darden Restaurants (DRI), Rare Hospitality (RARE) and ChoicePoint (CPS) were today's noteworthy downgrades:
- Goldman cut AutoNation (NYSE: AN) to Sell from Neutral based on potential for additional earnings shortfalls. The firm does not expect a sharp rebound in shares.
- Bear Stearns downgraded Darden Restaurants (NYSE: DRI) to Peer Perform from Outperform following its acquisition of Rare Hospitality.
- Rare Hospitality (NASDAQ: RARE) was cut to Hold from Buy at Keybanc following the acquisition offer from Darden.
- ChoicePoint (NYSE: CPS) was cut to Reduce from Neutral at Suntrust, citing the difficult macro environment, which will impact revenue growth in its low-barrier commoditized non-insurance operations...
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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