Upgrades and Downgrades (JHX, BKC, PSS, CCU, MFE, MITL)

Published on Friday, 03 September 2010 07:45 Written by Danny Miller

New York, September 3^rd (TradersHuddle.com) – Following are some of the top upgrades and downgrades before the market open.

James Hardie (NYSE:JHX) was upgraded to a Neutral from Reduce at Nomura

Downgrades

Burger King (NYSE:BKC), the fast food hamburger chain, was downgraded to a Neutral from Overweight at Piper Jaffray and to a Sell from Buy at Deutsche Bank.

Collective Brands (NYSE:PSS), the retailer of branded footware like Stride Rite, Sperry Top-Sider, Saucony, and Keds, was downgraded to a Neutral from Positive at Susquehanna. The firm set a target price of $23.

Compania Cervecerias Unidas (NYSE:CCU), the brewer in Argentina and Chile, was downgraded to a Hold from Buy at Deutsche Bank.

McAfee (NYSE:MFE), the antivirus software provider that is being acquired by Intel, was downgraded to a Neutral from Outperform at Cowen.

Mitel Networks (MITL), the provider of provider of communications solutions, was downgraded to a Neutral from Overweight at JP Morgan and to a Neutral from Overweight at Piper Jaffray.