Mylan (MYL) (NEU) (ORCL) (CX) (DTLK) (EXPO) Downgraded

Mylan Inc. (NYSE: MYL), NewMarket Co. (NYSE: NEU), Oracle (NASDAQ: ORCL), Cemex SAB de CV (NYSE: CX), Datalink Corporation (NASDAQ: DTLK) and Exponent, Inc. (NASDAQ: EXPO) were downgraded by analysts.

Mylan Inc. (MYL) was downgraded by Buckingham Research from a “Buy” rating to a “Neutral” rating.

NewMarket Co. (NEU) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.

Oracle (ORCL) was downgraded by CLSA from a “Buy” rating to an “Underperform” rating.

Cemex SAB de CV (CX) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.

Datalink Corporation (DTLK) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.

Exponent, Inc. (EXPO) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.

Ratings On (LM) (MD) (MEE) (MYL) Downgraded by Analysts

Analysts downgraded Legg Mason, Inc. (NYSE: LM), Mednax Services Inc (NYSE: MD), Massey Energy (NYSE: MEE) and Mylan Inc. (NYSE: MYL) today.

Keefe, Bruyette & Woods, Inc downgraded Legg Mason, Inc. (LM) from an “outperform” rating to a “market perform” rating.

Feltl & Co. downgraded Mednax Services Inc (MD) from a “strong buy” rating to a “buy” rating. They have a price target of $81.00 on the company, up from $76.00.

Dahlman Rose downgraded Massey Energy (MEE) from a “buy” rating to a “hold” rating.

Morgan Stanley (NYSE:MS) downgraded Mylan Inc. (MYL) from an “overweight” rating to an “equal weight” rating. They have a price target of $25.00 on the company. Pressures on prices from overseas competitors was cited as the catalyst.

Mylan (NASDAQ:MYL) One of Top Generic Companies Says UBS (NYSE:UBS)

After settling with Pfizer (NYSE:PFE) over Lipitor, Mylan (NASDAQ:MYL) is positioned strongly for accelerated momentum, and is still one of the best positioned generic companies, UBS said.

UBS noted, "Caduet is the smaller of the opportunities with Ranbaxy already having settled with Pfizer (NYSE:PFE) and able to launch on November 30, 2011 as well. We assume Ranbaxy and Mylan share the exclusivity period (worth $0.07 to Mylan) and then Sandoz comes into the market. For Lipitor we assume Mylan will launch after the exclusivity period ends (along with Teva) in June 2012 with sales of -60M ($0.08 in EPS) in 2012E and -$95M ($0.14 in EPS) in 2013E."

"...And, with two additional date certain launches our 2011E EPS increases by $0.03 to $2.00 and our 2012E EPS increases by $0.08 to $2.30. We continue to see Mylan as one of the best positioned generics companies, and we continue to recommend the name."

UBS maintains a 'Buy' rating on Mylan (MYL), which closed Wednesday at $23.96, gaining $0.16, or 0.67 percent. UBS raised their price target on Mylan from $23 to $28.

Mylan (Nasdaq:MYL) Approved for Generic Protonix

Mylan (Nasdaq:MYL) received approval from the U.S. Food and Drug Administration to market pantoprazole sodium tablets, a generic version of Wyeth's (NYSE:WYE) Protonix.

For the year ending September 30, sales of Pantoprazole sodium tablets in the U.S. came to about $1.7 billion. Mylan said they're going to begin shipping the product immediately.

According to IMS Health, Mylan has 170 generic drug applications before the FDA, which represent about $98 billion in annual sales. Of the 170 applications, 46 represent a possible first-to-file opportunity, which could generate $24.3 billion in annual sales for the year ending June 30.

In a separate matter, Mylan announced they had reached an agreement with Pfizer (NYSE:PFE) in relationship to Lipitor tablets. Terms of the agreement weren't revealed.

Mylan was trading at $23.69, up $0.17, or 0.72 percent, as of 11:52 AM EST.

Mylan (NASDAQ:MYL) Top Generic Asset Says Goldman (NYSE:GS)

Goldman Sachs (NYSE:GS) boosted their price target on Mylan (NASDAQ:MYL), saying they see a lot of upside for the stock, which they consider the best pure generic play in the segment.

They said, "Mylan has grown into what we view as the most attractive global largely pure-play generic asset with (1) leverage to attractive high growth regions ex-US (62% of revenue is ex-US) (2) a stable and diversified business model offering a sector high 3-year EPS CAGR at 17% and (3) undemanding valuation that we think can support further multiple expansion and remains well below historical generic take-out levels for strategic deals."

Goldman maintains their "Conviction Buy" rating on Mylan, which closed Wednesday at $22.60, up $0.02, or 0.07 percent. Goldman increased their price target on Mylan from $26 to $28, citing possible M&A.

Mylan (NASDAQ:MYL) Continues to be Weighed Down by Debt Worries

After the disastrous debt risk of 2008-2009 of Mylan (NASDAQ:MYL), the company has lowered its leverage, and Needham believes the improvements haven't been rightly appreciated by the equity capital markets.

Needham said, "The age-old axiom holds that less risk equals greater valuation, at least in theory. In the case of MYL however, we would argue that a significant decrease in financial risk post the leverage apocalypse of 2008-09, has been underappreciated by the equity capital markets. While near-term investor focus will likely remain fixated on EPS catalysts and the never ending quest for numbers visibility, potential upside based upon increased crystallization of the 2011 EPS outlook could get an added boost from multiple expansion as shares continue to be undeservedly weighed down by debt concerns."

Needham & Company maintains a "Strong Buy" on Mylan, which closed Tuesday at $20.68, up $0.85, or 4.26 percent. Needham has a price target of $26 on them.