Investors frequently get to see the analyst upgrades and the myriad of Buy ratings from Wall Street, but they often do not get to see when analysts downgrade stock or when they issue sell ratings. We review many fresh research calls each and every day, and we have broken out the negative analyst calls from the positive calls. These are this Monday’s top analyst downgrades and cautious research notes from Wall Street.

Banco Santender (NYSE: SAN) was cut to Sell from an already cautious Neutral rating at Citigroup.

Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA) was also cut to Sell from Neutral at Citigroup.

BroadSoft Inc. (NASDAQ: BSFT) was initiated with a Hold rating at Deutsche Bank.

Corcept Therapeutics Inc. (NASDAQ: CORT) was cut to Neutral from Outperform at Piper Jaffray.

Eldorado Gold Corp. (NYSE: EGO) was cut to Sector Perform from Outperform at RBC Capital Markets.

Excelon Corp. (NYSE: EXC) was cut to Neutral from Buy at ISI Group.

Heartware International Inc. (NASDAQ: HTWR) was cut to Neutral from Outperform at Credit Suisse.

Moody’s Corp. (NYSE: MCO) was cut to  Outperform from Strong Buy at Raymond James.

PACCAR Inc. (NASDAQ: PCAR) was cut to Neutral from Buy at Bank of America/Merrill Lynch.

Pan American Silver Corp. (NASDAQ: PAAS) was named Bear of the Day at Zacks Investment Research.

Weatherford International Ltd. (NYSE: WFT) was cut to Neutral from Strong Buy at ISI Group.

See also: Top Analyst Upgrades and Positive Calls This Monday

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