Analyst downgrades: TXI, TGA and LVLT

Filed under: Analyst reports, Analyst upgrades and downgrades, Whole Foods Market (WFMI), Safeway Inc (SWY), Level 3 Communications (LVLT)

MOST NOTEWORTHY:

• Stephens downgraded shares of Texas Industries (NYSE: TXI) to Equal Weight from Overweight as it believes higher energy costs will affect the company's ability to achieve its guidance. The firm lowered its target to $68 from $83.
  


• Jefferies assumed coverage and downgraded shares of TransGlobe Energy (NYSE:TGA) to Hold from Buy as it sees limited upside until the company completes its seismic activity and can better quantify its exploratory reserve potential. The firm lowered its target to $5.25 from $6.50.
  


• Citigroup downgraded Level 3 (NASDAQ: LVLT) to Sell from Hold as it believes the pullback in telecom valuations increases downside risk for the stock. Citigroup lowered their target price to $2.50 from $3.

• Safeway (NYSE: SWY), Sysco (NYSE:SYY) and Whole Foods (NASDAQ: WFMI) were cut to Neutral from Buy at UBS.
  


• Piper lowered Third Wave (NASDAQ:TWTI) to Neutral from Buy.
  


• China Petroleum (NYSE: SNP) was lowered at JP Morgan to Underweight from Overweight.

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