An analyst at Stephens has downgraded shares of Dean Foods (NYSE: DF) today following its Q4 earnings miss earlier. The stock last traded at $15.19, now down 14% from yesterday's closing price.
The Stephens analyst lowered her investment rating on Dean from Overweight to Equal-Weight and also cut her price target on the stock from $21 to $18. The analysts new price target represents potential upside of about 18% from where the stock is trading today.
To see all the upgrades/downgrades on shares of Dean Foods following its earnings report, visit our Analyst Ratings page.
Dean Foods Company, together with its subsidiaries, operates as a food and beverage company in the United States.
Raymond James downgrades Parkway Properties (NYSE: PKY) from Market Perform to Underperform.
To see all the upgrades/downgrades on shares of PKY, visit our Analyst Ratings page.
Parkway Properties, Inc. (Parkway) is a real estate investment trust (REIT) specializing in the operation, leasing, acquisition and ownership of office properties.
Janney Montgomery Scott downgrades Parkway Properties (NYSE: PKY) from Buy to Neutral. Price target lowered from $27 to $18.
After slashing its dividend 77%, Parkway's current yield of 1.7% is no longer competitive with its peers' yield of 5.7% or the industry yield of 4.5%. Consequently, investors are no longer paid to wait for the embedded growth of Texas Fund II, Parkway's $750M acquisition fund with Texas Teachers. Compounding this issue is the departure of former CFO Mitch Collins, a seasoned real estate professional that we believed would be instrumental in guiding the REIT's future fund acquisitions. Given that Parkway's acquisitions in prior cycles have only been mildly successful-as evidenced by the REIT's average annual decline of 3.5% from 2003 through 2008-our confidence that management can make the "right" acquisitions in the "right" markets at the "right" time has been shaken...Turning our model for 4Q'09 results, we are raising our 2010E to $2.82 from $2.57, but are lowering our 2011E to $2.46 from $2.61."
To see all the upgrades/downgrades on shares of PKY, visit our Analyst Ratings page.
UBS downgrades Energy Conversion (Nasdaq: ENER) from Neutral to Sell.
UBS analyst says industry trends for its unique solar panel likely stay challenging near term and solar panel average selling prices are likely to remain under pressure in the near term.
UBS analyst lowers FY10 and FY11 EPS estimates to ($2.40) and ($1.50) vs. ($0.71) and $0.18 previously.
To see all the upgrades/downgrades on shares of ENER, visit our Analyst Ratings page.
Energy Conversion Devices, Inc. (ECD), through its subsidiaries, commercializes materials, products and production processes for the alternative energy generation (primarily solar energy), energy storage and information technology markets.
Argus downgrades Sterlite Industries (NYSE: SLT) from Buy to Sell.
To see all the upgrades/downgrades on shares of SLT, visit our Analyst Ratings page.
Sterlite Industries (India) Limited (Sterlite) is a non-ferrous metals and mining company.
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