Analyst downgrades 3-21-07: Alcoa, Dean Foods & Dow Chemical downgraded today
Posted Mar 21st 2007 11:11AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Alcoa Inc (AA), Cintas Corp (CTAS), Dean Foods (DF), Dow Chemical (DOW)
MORE NOTEWORTHY: The aluminum sector, National City Corp (NCC), MGM Mirage (MGM) and Domtar Corp (UFS) were some of today's notable downgrades:
- Prudential downgraded the aluminum industry to Unfavorable from Favorable, cutting cut Alcoa Inc (NYSE: AA) to Neutral from Overweight and Alcan Inc (NYSE: AL) to Underweight from Overweight. Prudential cited the increased Chinese output growth and slowing U.S. demand for aluminum for the downgrades.
- Keefe Bruyette cut National City Corp (NASDAQ: NCC) to Underperform from Market Perform based on higher credit costs and near-term capital requirements.
- MGM Mirage (NYSE: MGM) was downgraded to Sell from Hold at Matrix USA citing valuation.
- Citigroup cut Domtar Corp (NYSE: UFS) to Sell from Hold with a $9 target based on valuation.
OTHER DOWNGRADES:
- Dow Chemical Co (NYSE: DOW) was removed from Credit Suisse's U.S. Focus List.
- Prudential cut Dean Foods Co (NYSE: DF) to Neutral from Buy based on valuation and volatile short-term raw milk prices.
- Barrington downgraded Cintas Corp (NASDAQ: CTAS) to Market Perform from Outperform with a $40 target based on poor Q3 earnings and lower revised guidance.
- Methanex Corp (NASDAQ: MEOH) was cut to Underperform from Market Perform at BMO Capital.
- Buffalo Wild Wings (NASDAQ: BWLD) was downgraded to Hold from Buy with a $67 target at Jefferies based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: aa, al, alcan, alcoa, aluminum, analyst, buffalo wild, BuffaloWild, bwld, cintas, ctas, dean foods, DeanFoods, df, dow, downgrade, meoh, methanex, mgm, national city, NationalCity, ncc, rating, theflyonthewall.com
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