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Analyst downgrades 7-10-07: DCEL, FORM, GGG and RACK

Posted Jul 10th 2007 10:21AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Reports, Analyst Upgrades and Downgrades, Bad News,

MOST NOTEWORTHY: FormFactor, Inc (FORM), Graco Inc (GGG), China Telecom (CHA), Sempra Energy (SRE) and Unica Corp (UNCA) were today's noteworthy downgrades:

JP Morgan cut FormFactor (NASDAQ: FORM) to Underweight from Neutral citing expected competition from Micronics Japan, which has successfully ramped up production at its new advanced probe card factory.

CIBC's checks suggest that challenges still remain in Graco's (NYSE: GGG) contractor segment and is likely to impact results, downgrading shares to Sector Performer from Sector Outperformer.

Deutsche Bank downgraded shares of China Telecom (NYSE: CHA) to Hold from Buy to reflect slower user growth as the company added 77% fewer fixed-line customers in the first five months of 2007.

Sempra Energy (NYSE: SRE) was cut to Outperform from its Top Pick rating at RBC Capital following the company's JV announcement with the Royal Bank of Scotland (RBSPY).

Jefferies downgraded shares of Unica (NASDAQ: UNCA) to Hold from Buy after the company reported lower than expected Q3 licenses to reflect too much variance in execution...

OTHER DOWNGRADES:

Linear Technology (NASDAQ: LLTC) was downgraded to Accumulate from Buy at ThinkEquity.

Rackable Systems (NASDAQ: RACK) was downgraded to Sector Outperform at RBC Capital.

Stanford cut Dobson (NASDAQ: DCEL) to Hold from Buy.

Lehman assumed coverage of Extreme Networks (NASDAQ: EXTR) with an Equal Weight rating, downgrading shares from Overweight.

Lazard downgraded First Solar (NASDAQ: FSLR) to Hold from Buy.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrade 6-20-07: BBY, BUD, MRK and SLB

Posted Jun 20th 2007 11:34AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Schlumberger Limited (SLB), Anheuser-Busch InBev (BUD), Best Buy (BBY), Merck and Co (MRK)

MOST NOTEWORTHY: Linear Technology Corp (LLTC), Anheuser-Busch (BUD), Best Buy (BBY), Bankrate (RATE) and Ensco International (ESV) were today's more noteworthy downgrades:

Linear Technology Corp (NASDAQ: LLTC) was cut to Sell from Neutral at Merrill citing slowing revenue growth and valuation...

AG Edwards downgraded Anheuser-Busch (NYSE: BUD) to Hold from Buy on valuation...

Goldman said Best Buy's (NYSE: BBY) fundamentals remain at risk after the Q1 report and cut shares to Neutral from Buy...

AG Edwards cut both Bankrate (NASDAQ: RATE) and Ensco International (NYSE: ESV) to Hold from Buy on valuation...

OTHER DOWNGRADES:

Merck & Co (NYSE: MRK) was cut to Market Perform from Outperform at Raymond James.

Schlumberger Ltd (NYSE: SLB) was downgraded to Neutral from Add at Calyon.

ThinkEquity downgraded Color Kinetics (NASDAQ: CLRK) to Accumulate from Buy.

Maxwell Technologies (NASDAQ: MXWL) was cut to Market Perform from Outperform at JMP Securities.

Occidental Petroleum Corp (NYSE: OXY) was downgraded to Hold from Buy at Deutsche Bank.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 5-07-07: AH, AMZN, CECO, MSFT and VZ

Posted May 7th 2007 11:42AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Microsoft (MSFT), Amazon.com (AMZN), Verizon Communications (VZ)

MOST NOTEWORTHY: Microsoft (MSFT), Career Education Corp (CECO), Verizon Communications (VZ), Transocean Inc (RIG) and GlobalSanteFe Corp (GSF) were some of today's notable downgrades:

Davenport cut shares of Microsoft (NASDAQ: MSFT) to Neutral from Buy citing concerns of a potential Yahoo! (YHOO) acquisition, which would significantly dilute earnings.

Gabelli downgraded shares of Career Education (NASDAQ: CECO) to Hold from Buy as the firm believes turnaround efforts at the University segment are not gaining traction.

Raymond James cut Verizon Communications (NYSE: VZ) to Underperform from Market Perform.

With the greater dependence on midwater floaters, AG Edwards believes Transocean Inc (NYSE: RIG) now has a more balanced risk/reward and cut shares to Hold from Buy.

AG Edwards also cut GlobalSanteFe (NYSE: GSF) to Hold from Buy based on the company's greater dependence on international jackups and balanced risk/reward.

OTHER DOWNGRADES:

Keefe Bruyette downgraded LandAmerica Financial Group, Inc (NYSE: LFG) to Market Perform from Outperform on valuation.

JP Morgan downgraded Westwood One (NYSE: WON) to Underweight from Neutral.

Linear Technology Corp (NASDAQ: LLTC) was downgraded to Underweight from Neutral at Prudential.

Matrix USA downgraded shares of Armor Holdings, Inc (NYSE: AH) to Buy from Strong Buy.

Matrix downgraded Amazon.com (NASDAQ: AMZN) to Sell from Hold.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 4-24-07: ADM, QSFT, NSM, MXIM and UTX initiated today

Posted Apr 24th 2007 11:52AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Archer-Daniels-Midland (ADM), Analyst Initiations, United Technologies (UTX)

MOST NOTEWORTHY: Four analog semiconductors, Archer Daniels Midland Co (ADM) and United Technologies Corp (UTX) were today's more noteworthy initiations:

Bear Stearns initiated Analog Devices, Inc (NYSE: ADI) and National Semiconductor Corp (NYSE: NSM) with Outperform ratings and Linear Technology Corp (NASDAQ: LLTC) and Maxim Integrated Products Inc (NASDAQ: MXIM) with Peer Perform ratings.

Archer Daniels Midland Co (NYSE: ADM) was initiated with a Neutral rating at Banc of America based on expected declines in ethanol margins. JP Morgan started shares with an Overweight rating.

United Technologies (NYSE: UTX) was started with a Strong Buy rating at Matrix USA with a $90 intrinsic value...

OTHER INITIATIONS:

CIBC initiated Quest Software, Inc (NASDAQ: QSFT) with a Sector Performer rating.

Credit Suisse reinstated shares of Regal Entertainment Group (NYSE: RGC) with an Outperform rating.

Merrill Lynch started BigBand Networks, Inc (NASDAQ: BBND) with a Neutral rating, ThinkEquity started shares with an Accumulate rating and $19 target, Jefferies started them with a Buy rating and Cowen started shares with an Outperform rating.

RBC Capital initiated shares of Sunstone Hotel Investors, Inc (NYSE: SHO) with an Outperform rating.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 4-19-07: BBI, BP, CPWR, DPZ and NFLX downgraded today

Posted Apr 19th 2007 11:36AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Netflix, Inc. (NFLX), Blockbuster Inc 'A' (BBI), , Domino's Pizza (DPZ), BP p.l.c. ADS (BP)

MOST NOTEWORTHY: Netflix, Inc (NFLX), Blockbuster Inc (BBI), The Mosaic Company (MOS) and Domino's Pizza, Inc (DPZ) were some of today's noteworthy downgrades:

First Albany cut Netflix Inc (NASDAQ: NFLX) to Neutral from Buy to reflect weak industry subscriber additions.

Blockbuster Inc (NYSE: BBI) was downgraded to Hold from Buy at Soleil.

Citigroup cut The Mosaic Company (NYSE: MOS) to Sell from Hold on expectations for a sharp DAP price decline and valuation.

Domino's Pizza Inc (NYSE: DPZ) was downgraded to Peer Perform from Outperform at Bear Stearns, citing valuation.

OTHER DOWNGRADES:

Merrill Lynch downgrade BP Plc (NYSE: BP) to Neutral from Buy on valuation.

Smith Micro Software, Inc (NASDAQ: SMSI) was cut to Hold from Buy with a $21 target.

Pacific Crest downgraded Linear Technology Corp (NASDAQ: LLTC) to Sector Perform from Outperform based on secular headwinds and an increase in DOI to 82 days.