MOST NOTEWORTHY: Lubrizol (LZ), Cytec Industries (CYT), L-1 Identity (ID) and Cogent (COGT) were today's noteworthy downgrades: Citigroup downgraded Lubrizol to Sell from Hold on margin concerns after the company's competitor NewMarket and customer Valvoline reported a decline in Q4 margins. Citi lowered its target price on shares to $67 from $78. Deutsche Bank downgraded Cytec Industries to Hold from Buy on 2010 concerns, which include rising raw materials and lower aerospace volumes. The firm lowered its target on shares to $38 from $42. JP Morgan downgraded L-1 Identity and Cogent to Underweight from Neutral to reflect a negative outlook for the biometric sector in 2010. The firm has an $8 target on L-1 and an $11.50 price target on Cogent shares...OTHER DOWNGRADES: Arch Coal (ACI) was cut to Market Perform from Outperform at BMO capital. Warner Chilcott (WCRX) was downgraded to Equal Weight from Overweight at Morgan Stanley. Provident Financial (PFS) was downgraded to Neutral from Buy at Janney Montgomery. :theflyonthewall.com
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