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MOST NOTEWORTHY: Abercrombie & Fitch, China Unicom and Toronto Dominion were today's noteworthy downgrades:
  • Friedman Billings downgraded Abercrombie & Fitch (NYSE: ANF) to Market Perform from Outperform citing soft comps which could impact EPS expectations in 2H08 and SG&A investing.
  • China Unicom (NYSE: CHU) was downgraded to Neutral from Outperform at Credit Suisse and to Equal Weight from Overweight at Morgan Stanley as the company's phone asset sales garnered a lower-than-expected price.
  • RBC Capital downgraded Toronto Dominion (NYSE: TD) to Sector Perform from Outperform citing expense initiatives in domestic retail banking which are hurting operating leverage, loan losses in U.S. banking, and muted capital markets revenues.
OTHER DOWNGRADES:
  • William Blair cut Littelfuse (NASDAQ: LFUS) to Market Perform from Outperform.
  • Linear Tech (NASDAQ: LLTC) was downgraded at UBS to Neutral from Buy.
  • Abiomed (NASDAQ: ABMD) was lowered to Neutral from Positive at Susquehanna.

Analyst downgrades: ANF, CHU, TD, LFUS, LLTC, ABMD originally appeared on BloggingStocks on Tue, 03 Jun 2008 11:33:00 EST. Please see our terms for use of feeds.

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