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Analyst downgrades 11-6-06: Lowe's, Home Depot and Intel get downgraded

MOST NOTEWORTHY: Home Depot (HD) and Lowe's (LOW) led a modest downgrade list Monday, as the Dow and Nasdaq moved higher in early trading.

  • UBS Investment downgraded to Reduce From Neutral both Lowe's Companies, Inc. (NYSE:LOW), target lowered to $24 from $30, and Home Depot, Inc. (NYSE:HD), target to $32 from $37, citing further weakness n the U.S. housing market.
  • Bernstein downgraded both Intel Corp. (NASDAQ:INTC) to Underperform from Market Perform, target is $17; and National Semiconductor Corp. (NYSE:NSM), to Market Perform from Market Perform, target is $26, citing concerns over demand and inventory build in the sector.

OTHER DOWNGRADES:

  • BMO Capital downgraded Duke Energy (NYSE:DUK) to Market Perform from Outperform, following Q3 results and due to the company's outlook.
  • Finally, Matrix downgraded Newmont Mining (NYSE:NEM), citing increased costs and valuation.

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

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