Downgrades

It seems we have a bit of an analyst duel today; the widely-traded Potash Corp. (NYSE: POT) was upgraded at one firm, and downgraded at another. The stock's price action is more-or-less reflecting this battle of bull vs. bear as shares are very modestly lower, currently down 0.2% to $122.10.

The upgrade came from an analyst at Dahlman Rose who lifted his investment rating on the stock from Sell to Hold, while the downgrade came from Canada's Desjardins, which moved its rating from Buy to Hold.

Notably, shares of Potash rallied sharply through November, adding about 21% from $92.78 to $112.42 at the close on November 30.

To stay up-to-date on all the market-moving upgrades/downgrades on shares of Potash, visit our Analyst Ratings page.

RBC Capital downgrades Teck Resources Limited (NYSE: TCK) from Outperform to Sector Perform.

To see all the upgrades/downgrades on shares of TCK, visit our Analyst Ratings page.

Teck Resources Limited operates as a diversified mining, mineral processing, and metallurgical company.

Wells Fargo downgrades Regency Centers (NYSE: REG) from Outperform to Market Perform.

"We are reducing our valuation range to $30-33 from $36-38 as we believe cap rates have resumed their rise to account for the increasing gap between contract and spot market rents. While we continue to believe REG's portfolio is well-positioned to outperform its local competition, we feel the shares are fully-valued at this time. Reducing 2009-2010E Reported FFO/sh from $2.43 and 2.60 to $1.13 and $2.19. Excluding non-recurring items our 2009-2010E Recurring FFO/sh are $2.63 and $2.16 as compared to guidance of $2.59-2.64 for 2009 and $2.11-2.31 for 2010."

"High-quality grocery-anchored shopping centers located in "in-fill" submarkets with high population density and high household incomes are historically able to maintain superior occupancy levels and deliver higher and more consistent rent growth than those centers without these underlying strengths. Regency has very strong trade area demographics -- 50% above the peer average -- but at the current valuation we feel the shares are fairly valued."

To see all the upgrades/downgrades on shares of REG, visit our Analyst Ratings page.

Regency Centers Corporation operates as a real estate investment trust.

Goldman Sachs upgraded US REITS from Cautious to Neutral, citing a slow recoery and stable near-term outlook. The firm now sees flat total return amid an economic recovery.

The firm stated, "1) fundamentals should bottom within the next 12-18 months; 2) funding costs remain attractive; and 3) acquisition opportunities should emerge over time."

As part of the call, the firm upgraded Brookdale Senior Living Inc. (NYSE: BKD) from Neutral to Buy, Avalonbay Communities Inc. (NYSE: AVB) from Sell to Neutral, General Growth Properties (Nasdaq: GGWPQ) from Sell to Neutral and downgraded Kimco Realty Corporation (NYSE: KIM) from Buy to Neutral.

Their best buy ideas in the group are Brookfield Properties Corporation (NYSE: BPO) and Taubman Centers Inc. (NYSE: TCO). The best sell ideas include Essex Property Trust Inc. (NYSE: ESS) and Duke Realty Corp. (NYSE: DRE).

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Collins Stewart downgrades Genzyme (Nasdaq: GENZ) from Buy to Hold, price target lowered from $60 to $55.

Collins analyst says, "Return of the Vesivirus is a significant overhang: The Vesivirus source has yet to be identified, permitting a re-contamination. Our consultants note that viral contaminations have ~50% odds of returning after ~8-12 months. As a result, Cerezyme and Fabrazyme supply remains at risk until there is sufficient inventory (unlikely until 2011) to manage through a potential viral contamination."

"Lack of clarity on the Myozyme 4000L U.S. regulatory pathway: In order for a Myozyme 4000L approval in the U.S., GENZ can reference the 2000L or 160L scale product or provide new clinical data. We have little visibility into the timing of the Lumizyme 2000L approval (due to Allston), and believe comparability to Myozyme 160L will be held to higher standards given its indication for adolescents. As a result, we now model for a Myozyme 4000L U.S. approval in 2011 (from 3Q09) and are lowering our FY10 and FY11 Myozyme/Lumizyme revenue estimates."

To see all the upgrades/downgrades on shares of GENZ, visit our Analyst Ratings page.
Genzyme Corporation operates as a biotechnology company worldwide.