MOST NOTEWORTHY: Novartis AG (NVS), Intel (INTC), Total S.A. (TOT), Syniverse Holdings, Inc (SVR) and Kindred Healthcare (KND) were today's noteworthy downgrades:
- Merrill cut Novartis (NYSE: NVS) to Neutral from Buy based on a lack of near-term catalysts. Credit Suisse downgraded shares of the company to Underperform from Neutral on expectations of slowing sales growth in 2H07.
- JMP Securities downgraded Intel (NASDAQ: INTC) to Market Perform from Outperform based on valuation and lower estimates.
- JP Morgan cut Total S.A. (NYSE: TOT) to Neutral from Overweight on valuation.
- Syniverse (NYSE: SVR) was cut to Strong Sell from Sell at Matrix USA as competition in North America is creating a cut in Network Services and Number Portability Services revenue.
- Kindred Healthcare (NYSE: KND) was cut to Underperform from Market Perform at Wachovia based on valuation...
OTHER DOWNGRADES:
- DaVita (NYSE: DVA) was downgraded to Hold from Buy at Deutsche Bank.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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