Top Pre-Market Analyst Downgrades (ADTN, AFL, CBS, DDUP, ENR, INWK, PCS, PTRY, RGLD, SYK)

These are some of this Tuesday’s top pre-market analyst downgrades and cautious research calls from Wall Street that we have seen with more than two hours until the opens:

• ADTRAN (ADTN) Started as Equal-Weight at Barclays.
• AFLAC (AFL) Cut to Hold at Deutsche Bank.
• CBS (CBS) Cut to Underperform at Bernstein.
• Data Domain (DDUP) Started as Sell at Broadpoint AmTech.
• Energizer (ENR) Cut to Sell at UBS.
• Innerworkings (INWK) Cut to Hold at Jefferies.
• MetroPCS (PCS) Cut to Sector Perform ar RBC.
• Pantry (PTRY) Cut to Market Perform at FBR.
• Royal Gold (RGLD) Cut to Underweight at HSBC.
• Stryker (SYK) Cut to Hold at Needham.

Jon C. Ogg
January 27, 2009