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MOST NOTEWORTHY: Bear Stearns (BSC), Citigroup (C), Lehman (LEH), Chicago Bridge & Iron (CBI) and Bed Bath & Beyond (BBBY) were today's noteworthy downgrades:
  • Merrill downgraded Bear Stearns (NYSE: BSC), Citigroup (NYSE: C) and Lehman Brothers (NYSE: LEH) to Neutral from Buy to reflect greater earnings risk stemming from the slowdown in securitization and mortgage. Merrill also finds it "inevitable" that revenue from underwriting and advising on takeovers will slow.
  • Stanford downgraded shares of Chicago Bridge & Iron (NYSE: CBI) to Sell from Hold as they believe the premium valuation is unjustified given the Lummus acquisition.
OTHER DOWNGRADES:
  • Goldman downgraded Zale (NYSE: ZLC) to Sell from Neutral.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 8-28-07: BBBY, BSC, C and LEH originally appeared on BloggingStocks on Tue, 28 Aug 2007 10:13:00 EST. Please see our terms for use of feeds.

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