Analyst downgrades: RFMD, WDC and BYD
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MOST NOTEWORTHY: RF Micro Devices, Western Digital and Boyd Gaming were today’s noteworthy downgrades:
- Jefferies downgraded shares of RF Micro Devices (NASDAQ: RFMD) to Hold from Buy to reflect the continued softness in the China Market after Asian channel checks suggested the March quarter will be weak.
- Citigroup downgraded shares of Western Digital (NYSE: WDC) to Hold from Buy, as they believe the HDD industry is nearing a cyclical peak. They plus view the likelihood of consolidation as less likely given the currentconditions.
- Boyd Gaming (NYSE: BYD) was lowered to Neutral from Add at Calyon following its Q4 report.
OTHER DOWNGRADES:
- JP Morgan downgraded BorgWarner (NYSE: BWA), Lea Corporation (NYSE: LEA) and TRW Automotive Holdings (NYSE: TRW) to Neutral from Overweight.
- Merrill lowered Edison International (NYSE: EIX) to Neutral from Buy.
Original post by Eric Buscemi
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