Analyst downgrades: LVLT, TXN, BG, WLP, KERX and CTXS

March 11th, 2008 | Category: Analyst Reports, Analyst upgrades and downgrades

MOST NOTEWORTHY: The Managed Care sector, Keryx Biopharma and Citrix Systems were today’s noteworthy downgrades:

Goldman downgraded the Managed Care sector to Neutral from appealing following WellPoint’s (NYSE: WLP) reduced 2008 outlook. The firm said WellPoint’s issues reflect a company specific underwriting error but additionally industry-wide pricing pressures which increase the risk of a cyclical slowdown in managed care. WellPoint was plus downgraded to Neutral from Overweight at JP Morgan.
Banc of America cut Keryx Biopharma (NASDAQ: KERX) to Neutral from Buy and lowered their target to $1.00 after Sulonex folded to meet its primary endpoint.
Jefferies downgraded shares of Citrix

Systems (NASDAQ: CTXS) to Hold from Buy, as they believe the first half of 2008 will be a conditioned year for software and are increasingly worried about the macro environment.

OTHER DOWNGRADES:

Level 3 Comm (NASDAQ: LVLT) was downgraded to Underweight from Market Weight at Thomas Weisel.
Texas Instruments (NYSE: TXN) was lowered to Neutral from Buy at Piper Jaffray.
Credit Suisse removed Bunge Limited (NYSE: BG) from its U.S. Focus List.

Original post by Eric Buscemi

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