MOST NOTEWORTHY: Sonic Automotive (SAH), Hawaiian Electric (HE), AstraZeneca (AZN), AMB Property (AMB) and ProLogis (PLD) were today's noteworthy downgrades:
- Hawaiian Electric (NYSE: HE) was cut to Underweight from Equal Weight at Lehman based on valuation and the regulatory environment.
- AstraZeneca (NYSE: AZN) was downgraded to Equal Weight from Overweight at MorganStanley based on the reduced buyback, the $1.6B restructuring charge and potential for Nexium generics in Europe.
- Citigroup cut AMB Property (NYSE: AMB) and ProLogis (NYSE: PLD) to Sell from Hold citing the tight capital markets and the impact on costs for the downgrades...
OTHER DOWNGRADES:
- JP Morgan downgraded D.R. Horton (NYSE: DHI) to Neutral from Overweight.
- Keybanc downgraded shares of Diebold (NYSE: DBD) to Hold from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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