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Analyst downgrades: ANH, MFA, NWSAF and SKS

MOST NOTEWORTHY: Anworth Mortgage, MFA Mortgage, New Star Asset Management and Saks were today's noteworthy downgrades:
  • Keefe Bruyette downgraded Anworth Mortgage (NYSE: ANH) and MFA Mortgage (NYSE: MFA) to Market Perform from Outperform to reflect lower book value estimates based on the widening in agency spreads.
  • Deutsche Bank downgraded New Star Asset Management (OTC: NWSAF) to Sell from Buy, as they are negative on the company's business model and growth prospects in the current environment.
  • Saks (NYSE: SKS) was cut to Neutral from Buy at Banc of America as they believe the high-end is slowing.
OTHER DOWNGRADES:

Analyst downgrades 8-01-07: AMGN, CEPH, LYO and TDK

MOST NOTEWORTHY: TDK Corp. (TDK), Maquire Properties (MPG), BankAtlantic Bancorp (BBX), ON Semiconductor (ONNN) and Amgen (AMGN) were today's noteworthy downgrades:
  • UBS downgraded TDK Corp. (NYSE: TDK) to Reduce from Neutral after the company's operating profit missed estimates.
  • Deutsche Bank cut Maguire Properties (NYSE: MPG) to Sell from Hold following the company's disappointing Q2 report.
  • Valuation and debt levels pushed Unterberg to downgrade ON Semiconductor (NASDAQ: ONNN) to Market Perform from Buy.
  • William Blair downgraded shares of Amgen (NASDAQ: AMGN) to Market Perform from Outperform as they believe the CMS decision on ESA reimbursement guidelines is extremely restrictive regarding Aranesp use in oncology...
OTHER DOWNGRADES:
  • Stanford downgraded MoSys (NASDAQ: MOSY) to Hold from Buy.
  • Buckingham cut Cephalon (NASDAQ: CEPH) to Accumulate from Strong Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 2-21-07: Motorla, Palm, CSX downgraded today

MOST NOTEWORTHY: Motorola Inc (MOT), Maguire Properties Inc (MPG), China Life Insurance Co Ltd (LFC) and Palm, Inc (PALM) were some of today's most notable downgrades:
  • Lehman Bros downgraded shares of Motorola Inc (NYSE: MOT) to Equal Weight from Overweight with a $20 target citing a slower recovery in handset margins.
  • Stifel downgraded Maguire Properties Inc (NYSE: MPG) to Sell from Hold. Friedman Billings removed Maguire from its Top Picks list, citing the $2.9 billion acquisition of California assets for the removal.
  • Bear Stearns downgraded China Life Insurance Co Ltd (NYSE: LFC) to Underperform from Peer Perform based on valuation.
  • ThinkEquity cut Palm, Inc (NASDAQ: PALM) to Accumulate from Buy with an $18 target citing valuation driven by takeover speculation as well as lack of execution improvements.
OTHER DOWNGRADES:
  • UBS downgraded shares of both CSX Corp (NYSE: CSX) and Kansas City Southern (NYSE: KSU) to Neutral from Buy on valuation. The broker raised CSX's target to $45 from $41 and raised Kansas City's target to $38 from $33.
  • AG Edwards downgraded Qualcomm, Inc (NASDAQ: QCOM) to Hold from Buy on valuation.
  • Lehman downgraded Hasbro Inc (NYSE: HAS) to Equal Weight from Overweight with a $30 target.
  • Matrix USA downgraded KB Home (NYSE: KBH) to Hold from Strong Buy based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 2-08-07: Cisco, Alcoa & Cheesecake Factory upgraded

MOST NOTEWORTHY: Cisco Systems Inc (CSCO) and Cheesecake Factory Inc (CAKE) were today's most notable upgrades:
  • Cisco Systems Inc (NASDAQ: CSCO) was upgraded at DA Davidson to Neutral from Sell with a $32 target, following better-than-expected second-quarter results.
  • Piper Jaffray upgraded Cheesecake Factory Inc (NASDAQ: CAKE) from Market Perform from Underperform on valuation.
OTHER UPGRADES:
  • Goldman Sachs added both Hewlett Packard Co (NYSE: HPQ) and McDonald's Corp (NYSE: MCD) to its Conviction Buy List.
  • JP Morgan upgraded Quest Communications Int'l Inc (NYSE: Q) to Overweight from Neutral based on valuation.
  • Citigroup upgraded Alcoa Inc (NYSE: AA) and Alcan Inc (NYSE: AL) to Buy from Hold to reflect a favorable outlook for metal prices.
  • Raymond James upgraded EMC Corp (NYSE: EMC) to Outperform from Market Perform following VMware's IPO announcement.
  • Wachovia upgraded Vornado Realty Trust (NYSE: VNO) to Outperform from Market Perform citing the company's withdrawal from the Equity Office Properties Trust (NYSE: EOP) bid process.
  • Baird upgraded Maguire Properties Inc (NYSE: MPG) to Neutral from Underperform with a $42 target.
  • Brean Murray upgraded Aeropostale Inc (NYSE: ARO) to Hold from Sell.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+20.0310,246.97
NASDAQ-2.982,151.08
S&P 500-0.071,093.01

Last updated: November 11, 2009: 04:36 AM

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