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Rating:Three Asset Managers See Stock Downgrades Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 10, 2008

Three Asset Managers See Stock Downgrades

by: Armie Margaret Lee

Three asset managers saw their stock downgraded by analysts. Goldman Sachs analyst Marc Irizarry downgraded T. Rowe Price's stock from "neutral" to "sell," saying the Baltimore firm would see more money exiting than entering its mutual funds this quarter, The Baltimore Business Journal reports. Meanwhile, Wachovia Capital Management analyst Douglas Sipkin downgraded BlackRock's stock from"outperform" to "market perform," pointing to continued challenges for non traditional asset management products and pressure on earnings, Reuters reports. Also, Sandler O'Neill & Partners downgraded Janus Capital Group's stock from "buy" to "hold." The investment bank said investors are increasingly focused on "relative positioning and valuations." 

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