Analyst downgrades 5-07-07: AH, AMZN, CECO, MSFT and VZ by Microsoft Windows NT

Tue, 04 Dec 2007 23:01:42 +0300

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

by Microsoft Windows NT @ Tue, 04 Dec 2007 23:01:42 +0300

Filed under: Before the light, Analyst upgrades more 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).
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