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Analysts are backpedaling on

Sun Microsystems

(SUNW) - Get Sunworks Inc. Report

this morning, a day after the server maker

warned it would fall short of earnings and revenue estimates for its fiscal third quarter.

Goldman Sachs

, which has the stock on its recommended list,

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Credit Suisse First Boston

, which rates it a buy, and

Lehman Brothers

, which rates it strong buy, have done the usual, cutting estimates to reflect company guidance. They all maintained their existing ratings.

Merrill Lynch

, which

downgraded the company to neutral from accumulate two days ago, did the same, writing in a comment today that "the magnitude of the reductions caught us by surprise."