Sign in Subscribe
Banking industry

Analyst Downgrades for January 28, 2010

Strategic Insights

— 2 min read

On January 28, 2010, several notable downgrades were announced by analysts, affecting various companies listed on the New York Stock Exchange (NYSE) and the NASDAQ. The downgrades were based on the analysts' new views on the companies' financial prospects and market performance. These changes can have significant implications for investors, as they reflect the analysts' current opinions on the companies' potential for growth and value.

Key Takeaways:

  • Alliant Techsystems (NYSE:ATK) was downgraded to Neutral by Credit Suisse, despite no specific reason mentioned.
  • Burger King (NYSE:BKC) was downgraded to Neutral from Buy by Janney Montgomery, with a new target price of $19.
  • Capital One Financial (NYSE:COF) was downgraded to Buy from Conviction Buy by Goldman, indicating a shift in the analyst's confidence level.
  • Chesapeake (NYSE:CHK) was downgraded to Market Perform from Outperform by Wells Fargo, with a target price range of $27-31.
  • Cinemark (NYSE:CNK) was downgraded to Underweight from Equal Weight by Morgan Stanley, with a new target price of $13.
  • Logistics Partners (NYSE:SXL) was downgraded to Hold, $73.50 target, by Citi, highlighting the analyst's neutral view on the company's prospects.
  • Navios Partners (NYSE:NMM) was downgraded to Hold, $16 target, by Deutsche Bank, reflecting the analyst's cautious stance on the company's future performance.
  • Piper Jaffray (NYSE:PJC) was downgraded to Buy from Conviction Buy by Goldman, indicating a shift in the analyst's confidence level.
  • Qualcomm (NASDAQ:QCOM) was downgraded to Hold by ThinkEquity, without specifying the reasons for the change.
  • Taylor Devices (NASDAQ:TAYD) was downgraded to Underperform, $7 target, by KBW, indicating a pessimistic view on the company's future prospects.
  • Tetra Tech (NASDAQ:TTEK) was downgraded to Neutral from Buy by Janney Montgomery, with a new target price of $26.
  • Warner Chilcott (NASDAQ:WCRX) was downgraded to Hold from Buy by Jefferies, highlighting the analyst's neutral view on the company's prospects.
  • West Bancorp (NASDAQ:EWBC) was downgraded to Market Perform, $18 target, by BMO Capital, indicating a cautious stance on the company's future performance.

Statistics:

  • 14 companies were downgraded on January 28, 2010, by various analysts.
  • The number of UPTREND alerts issued by SmarTrend for the mentioned companies as of January 24, 2010, were:

+ Alliant Techsystems (NYSE:ATK): 1 UPTREND alert on 09-21-2009

+ Burger King (NYSE:BKC): 1 UPTREND alert on 08-25-2009

+ Chesapeake (NYSE:CHK): 1 UPTREND alert on 12-16-2009

Sources:

  • SmarTrend(R) Upgrades/Downgrades via COMTEX (Jan 28, 2010)
  • Comtex News Network, Inc.
  • TradeTheTrend.com
  • MySmarTrend.com
  • SmarTrend is a registered trademark of Comtex News Network, Inc.
  • Copyright 2004-2010 Comtex News Network, Inc.

Read more