Market Overview

Benzinga's Morning Downgrade Summary for June 4, 2012

Related SCHW
TD Ameritrade (AMTD) Posts In-Line Q3 Earnings, Up Y/Y
UPDATE: Charles Schwab Q2 Profit Surges 27%
Citigroup Leads Parade of Bank Earnings Next Week (Fox Business)

Listed below are today's Top Downgrades covered by Benzinga:

Citigroup Downgrades Charles Schwab (NYSE: SCHW) to Neutral:

Citigroup comments, "We downgrade AMTD from Buy to Neutral, lower EPS estimates and sharply cut 12-month price targets as interest rate and retail trading re-engagement risks re-ignite, which increasingly call into question: a) near term EPS power; and, b) timing of more normalized EPS."

Citigroup Downgrades TD Ameritrade (NYSE: AMTD) to Neutral:

Citigroup comments, "We downgrade AMTD from Buy to Neutral, lower EPS estimates and sharply cut 12-month price targets as interest rate and retail trading re-engagement risks re-ignite, which increasingly call into question: a) near term EPS power; and, b) timing of more normalized EPS."

Credit Suisse Downgrades China Ming Yang (NYSE: MY) to Underperform:

Credit Suisse notes, "We believe WTG ASP has seen its bottom and should remain stable going forward. We do not see changing of industry dynamics for ASP trend up, however. We revise down our 2012/13 EPS forecast to -US$0.25 and –US$0.24 respectively, to reflect lower sales volume (to 1.915/1.446 GW from 1.942/1.869 GW) in 2012/13. We revise our target price to US$0.9 based on 1x net cash. We downgrade the stock to UNDERPERFORM. We are also concerned on the company's delay in both annual and first quarter filings."

All of Benzinga's Downgrade coverage can be viewed here.

Posted-In: Citigroup Credit SuisseAnalyst Color Downgrades Analyst Ratings Best of Benzinga

 

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