Wachovia Upgrades Idearc (IAR) to Market Perform
IAR Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Wachovia upgrades Idearc, Inc. (NYSE: IAR) to Market Perform.
Wachovia analyst says, "IAR shares are off 94% (vs. the S&P 500 -12%) since late January. While we still remain cautious on the yellow pages industry and Idearc, we are upgrading to a Market Perform as we think the near term challenges are now reflected in the stock price...In addition, we see no end in sight from current cyclical pressures, which are weighing heavily on local advertising and IAR's results. Given the way yellow pages are sold, IAR's results will lag a rebound in the economy."
Idearc Inc. is yellow pages directories publisher in the United States.
Wachovia analyst says, "IAR shares are off 94% (vs. the S&P 500 -12%) since late January. While we still remain cautious on the yellow pages industry and Idearc, we are upgrading to a Market Perform as we think the near term challenges are now reflected in the stock price...In addition, we see no end in sight from current cyclical pressures, which are weighing heavily on local advertising and IAR's results. Given the way yellow pages are sold, IAR's results will lag a rebound in the economy."
Idearc Inc. is yellow pages directories publisher in the United States.
You May Also Be Interested In
- UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
- JPMorgan Upgrades Eastman Chemical (EMN) to Overweight
- Barclays on U.S. REITs: Best Ideas List: Adding HPP; Removing ARE
Create E-mail Alert Related Categories
UpgradesRelated Entities
Wachovia, Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
