The company's fundamental outlook remains unchanged since then and the stock may continue to "
underperform BP peers," Patterson wrote in a note.
24 November 2011 - RBC Capital Markets has cut its advice on Danish Danske Bank A/S (CPH:DANSKE) to "
underperform" from "sector perform" and its share price target to DKK69 from DKK82.
8 September 2011 - Credit Suisse has axed its rating on French drug manufacturer Ipsen (EPA:IPN) to "
underperform" from "neutral", slashing the share price target to EUR21 from EUR29 after the firm issued recently its first-half figures.
Credit Suisse's "
underperform" rating means that the total return on the company's shares -- price gains plus dividend -- is expected to be at least 10% to 15% lower than the sector average in the next twelve months.
Credit Suisse also upgraded Novartis AG, Switzerland's second-largest drugmaker, to "neutral" from "
underperform," while increasing its price estimate on the stock to 60 Swiss francs from 51, to reflect new foreign exchange assumptions and defensive characteristics.
Subsequent rationalizations will identify 12% to 20% of the SKUs that either
underperform and need improvement or elimination.
Instead, we find that working magnets chronically
underperform and are often costly from a maintenance standpoint."
One year's top-performing money managers are as likely to
underperform the market the following year as they are to turn in a superior performance.
(DOW) to
Underperform from Neutral and Westlake Chemical (WLK) to
Underperform from Buy, noting their commodity exposure.