Wachovia Cuts Symmetry Medical to Market Perform

From Standard & Poor's Equity Research

Wachovia downgraded Symmetry Medical (SMA) to market perform from outperform, noting the company's inconsistent business model.

Analyst Michael Matson noted the acceleration in decline of the company's organic revenue, poor short-term visibility into its financial results, management credibility issues, increased competition in the orthopedic supplier market, and other factors.

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