MOST NOTEWORTHY: Cadbury Schweppes plc (CSG), Adobe Systems (ADBE), Verizon Communications (VZ) and Arcelor-Mittal (MT) were today's noteworthy downgrades:
- Citigroup downgraded shares of Cadbury Schweppes (NYSE: CSG) to Hold from Buy as they see limited upside now that the company is close to divesting its beverage division.
- Adobe (NASDAQ: ADBE) was cut to Neutral from Buy at Goldman and was removed from the Americas Buy List as they do not believe revenue growth will significantly top 17% this year and may not meet investors high expectations.
- Soleil downgraded shares of Verizon Communications (NYSE: VZ) to Sell from Hold on valuation as they think the stock is trading near the high end of a reasonable trading range. They believe shares are due for a 10%-15% correction.
- Merrill expects carbon steel prices to come under pressure in Q3, sending Arcelor-Mittal (NYSE: MT) shares to Neutral from Buy...
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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