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Analyst downgrades 4-26-07: AAPL, CI, ERIC, TIBX and UPS were downgraded today

MOST NOTEWORTHY: Ericsson (ERIC), Hiland Holdings (HPGP), AVX Corp (AVX), Tibco Software Inc (TIBX) and UPS (UPS) were some of today's notable downgrades:
  • UBS downgraded shares of Ericsson (NASDAQ: ERIC) to Neutral from Buy following the company's Q1 report that showed weaker than expected operating cash flow.
  • AVX Corp (NYSE: AVX) was downgraded to Underweight form Neutral at JP Morgan.
  • Stifel downgraded United Parcel Service (NYSE: UPS) to Hold from Buy at Stifel, after Q1 showed a slight decline in U.S. Ground parcel volume...
OTHER DOWNGRADES:
  • AG Edwards downgraded Cigna Corp (NYSE: CI) to Hold from Buy.
  • Citigroup downgraded Apple (NASDAQ: AAPL) to Hold from Buy on valuation.
  • LongBow Research cut LSI Corp (NYSE: LSI) to Neutral from Buy; Wedbush cut shares to Hold from Buy on their disappointing Q1 report.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 2-22-07: SanDisk & ValueClick downgraded today

MOST NOTEWORTHY: Pharmion Corp (PHRM), Genesis Microchip (GNSS) and SanDisk Corp (SNDK) were some of today's most notable downgrades:
  • Pharmion Corp (NASDAQ: PHRM) was downgraded to Sell from Source of Funds at ThinkEquity, citing valuation.
  • Matrix USA downgraded Genesis Microchip Inc (NASDAQ: GNSS) to Strong Sell from Hold to reflect a share decline in revenues; they also believe shares are overvalued relative to the sector.
  • SanDisk Corp (NASDAQ: SNDK) was cut to Hold from Buy at WR Hambrecht. The firm said it has learned that a crack in the IP story has occurred, as Samsung has found a way to significantly reduce its royalty payments to SanDisk on its finished SD cards that it is currently shipping. The firm said this step by Samsung puts at risk ~15% of SanDisk royalty revenues as early as Q2:07, as Samsung is no longer willing to pay the 8% royalty rate to SanDisk on NAND MLC SD cards.
OTHER DOWNGRADES:
  • Stephens downgraded Group 1 Automotive Inc (NYSE: GPI) to Equal Weight from Overweight following disappointing Q1 results.
  • JMP Securities downgraded Flanders Corp (NASDAQ: FLDR) to Market Perform from Outperform.
  • Oppenheimer cut ValueClick Inc (NASDAQ: VCLK) to Neutral from Buy on valuation.
  • Matrix USA downgraded L-1 Identity Solutions (NYSE: ID) to Sell from Buy on valuation.
  • Goldman took Medco Health Solutions Inc (NYSE: MHS) off its Conviction Buy List, citing valuation.
  • Raymond James lowered Hiland Holdings (NASDAQ: HPGP) rating to Outperform from Strong Buy.
  • JP Morgan cut Waters Corp (NYSE: WAT) to Neutral from Overweight based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+35.8712,837.10
NASDAQ+17.072,920.95
S&P 500+4.891,347.53

Last updated: February 13, 2012: 10:46 AM

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