Shares of TransDigm (NYSE: TDG) have now pushed to session lows as an analyst at Davenport has just downgraded the stock from Buy to Neutral. The firm also lowered its price target to $42.
The firm said its downgrade was "driven by an ~40c/share increase in 2010 interest expense from the recent $425 debt offering, but more importantly, our belief that a 2H'10 return in commercial aftermarket demand is more wishful thinking than reality." Davenport points out that as the major airlines are still falling short on covering their costs, it believes the "next 6-12 months will see one or all of the following bad-for-aftermarket trends: lower in-service utilization rates, more aircraft groundings, mergers, or outright failures."
The stock is now down about 2.3% to $40.35.
Jefferies & Co downgrades Cardinal Health (NYSE: CAH) from Buy to Hold.
To see more analyst ratings on CAH Click Here.
Cardinal Health, Inc. provides health care products and services primarily in the United States.
William Blair downgrades CVS Caremark (NYSE: CVS) from Outperform to Market Perform.
To see more analyst ratings on CVS Click Here.
CVS Caremark Corporation, a pharmacy services company, provides prescriptions and related healthcare services in the United States.
ThinkEquity downgrades Move, Inc. (Nasdaq: MOVE) from Buy to Hold.
To see more analyst ratings on MOVE Click Here.
Move, Inc., together with its subsidiaries, operates online network of Web sites for real estate search, finance, and moving and home enthusiasts.
Morgan Stanley downgrades ResMed (NYSE: RMD) from Overweight to Equalweight.
To see more analyst ratings on RMD Click Here.
ResMed Inc., through its subsidiaries, engages in the development, manufacture, and distribution of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders.
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