Bank Analysts Downgrade Ratings on These Shares August 10th as Markets Plunge

Wall St. Watchdog reveals information about companies that were downgraded by stock analysts on August 10th:

  • Ultra Petroleum (NYSE:UPL): Howard Weil downgraded its rating on this stock from Market Outperform to Market Perform and changed its price target to $55.  About the company: Ultra Petroleum Corp. is a natural gas exploration and production company focused on the Green River Basin of Wyoming in the United States. The Company also explores for oil and gas in China.
  • PAETEC Holding (NASDAQ:PAET): RBC Capital Mkts downgraded its rating on this stock from Outperform to Sector Perform and changed its price target from $6 to $5.  About the company: PAETEC Holding Corporation offers communications services to businesses. The Company offers medium and large businesses in metropolitan areas of the United States local and long distance voice services, data services, and Internet services.
  • James River Coal (NASDAQ:JRCC): Brean Murray downgraded its rating on this stock from Buy to Hold.  No price target was given.  About the company: James River Coal Company, through subsidiaries, mines coal. The Company’s subsidiaries operate in Kentucky.
  • General Maritime (NYSE:GMR): FBR Capital downgraded its rating on this stock from Outperform to Mkt Perform.  No price target was given.  About the company:  General Maritime Corporation provides sea borne crude oil transportation services within the Atlantic Basin. The Company’s tankers operate primarily between ports in the Caribbean, South and Central America, the United States, Western Africa, and the North Sea.
  • Frontline (NYSE:FRO): FBR Capital downgraded its rating on this stock from Outperform to Mkt Perform.  No price target was given.  About the company:  Frontline Limited owns a fleet of very large crude carriers and Suezmax tankers that transport crude oil and oil products between ports. The Company’s vessels are managed by ship management companies. Frontline conducts activities worldwide.
  • Overseas Shipholding (NYSE:OSG): FBR Capital downgraded its rating on this stock from Outperform to Mkt Perform.  No price target was given.  About the company: Overseas Shipholding Group, Inc. maintains a fleet of marine transport vessels. The Company charters its ships to oil majors, traders and United States and international governmental agencies. OSG’s ships transport crude oil, refined petroleum products and gas.
  • Walt Disney (NYSE:DIS): Wunderlich downgraded its rating on this stock from Buy to Hold and changed its price target from $42 to $39.  About the company: The Walt Disney Company, an entertainment company, conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and Internet and direct marketing. The Company produces motion pictures, television programs, and musical recordings, as well as publishes books and magazines. Disney also operates ABC radio and television and theme parks.

(Note: Data on stock ratings are sourced from Briefing.com via the Wall St. Journal.  All data are assumed to be accurate.)

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