Filed under: Analyst reports, Analyst upgrades and downgrades

MOST NOTEWORTHY: UCBH Holdings, National Atlantic Holdings and J Sainsbury were today’s noteworthy downgrades:

• Friedman Billings downgraded UCBH Holdings (NASDAQ: UCBH) to Market Perform from Outperform. The firm said the departure of auditor PWC could not have come at a worse time following the recent CFO replacement and the credit-quality-related adverse change to Q4 earnings in the 10-K.
• Citigroup cut National Atlantic Holdings (NASDAQ: NAHC) to Hold from Buy after the company announced plans to merger with a subsidiary of Palisades Safety and Insurance.
• Goldman removed J Sainsbury (OTC: JSAIY) from the Conviction Buy List on fears that stagflation could impact earnings.

OTHER DOWNGRADES:

• Suntrust cut Goodrich Petroleum (NYSE: GDP) to Neutral from Buy.
• Cubist Pharma (NASDAQ: CBST) was downgraded to Market Weight from Overweight at Thomas Weisel.
• ING lowered Banco Bilbao Vizcaya Argentaria (NYSE: BBV) to Hold from Buy.

Permalink | Email this | Comments

Share This

This entry was posted on Friday, March 14th, 2008 at 12:02 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.