This morning, Lehman Brothers made the almost unprecedented move of placing sell, or in this case, underperform ratings on stocks. The firm lowered gold mining stocks Battle Mountain (BMG) , Homestake (HM) , Newmont (NEM) - Get Report and Kinross (KGC) - Get Report to underperform from neutral.
In its morning research note, Lehman said it has lowered its gold price estimate to $270 from $280 an ounce. The firm expects that companies involved in mining gold to continue to underperform the market.
analysts downgraded the retail sector late Tuesday. Among the stocks downgraded to either market outperformer or market performer from buy were
Abercrombie & Fitch
The sector has been under pressure all year due to fears of higher interest rates and increasingly difficult same-store sales comparisons.
: UP to buy from market perform at
Donaldson Lufkin & Jenrette
; price target: 75.
: UP to top pick from buy at DLJ.
: UP to buy from hold at
; price target: 70.
: DOWN to outperform from buy at Lehman.
: NEW buy at CSFB.
: NEW outperform at Lehman; price target: 26.