Major Stock Downgrades (EXPE, LZ, PSA) : by Penny Stock Pick Report

Expedia, Inc. (NASDAQ:EXPE) shares fell 1.81% to $28.24 after it was downgraded at Susquehanna to Neutral from Positive.

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The firm said at current levels the positives and negatives are more balanced.

The firm notes, "The positives include: (1) a European product cycle as Expedia expands in secondary and tertiary geographies with agency hotels; (2) better than expected near-term travel trends in the U.S.; (3) potential DOJ challenge to Google’s acquisition of ITA; and (4) valuation support from TripAdvisor, which could be worth $2 bln-$3 bln. The negatives include: (1) tougher booking comps in the second-half; (2) the potential for regulatory approval of Google’s acquisition of ITA, which could mean more traffic goes directly to supplier sites, rather than Expedia; and (3) economic uncertainty."

Lubrizol Corporation (NYSE:LZ) shares also downgraded by Deutsche Bank from Buy to Hold.

The firm said, "With the magnitude of upside earnings surprises likely to diminish going forward, upside to our '11 EPS estimate limited by the higher share price(as this reduces the number of shares that can be repurchased) and periods of strong outperformance in the shares typically followed by periods of price stability, we believe risk/reward in Lubrizol shares is balanced in the near-term. Limiting downside is a low absolute valuation of 9.6x '11E EPS and 5.5x EBITDA."

Shares of LZ are down 0.33% at $104.85.

Public Storage (NYSE:PSA) shares are down 0.80% to $101.90 after analysts at FBR Capital Downgraded rerated the stock to Market Perform from Underperform  earlier. However, the firm lifted the price target by $2 to $105.

FBR analyst says, "Our 12-month return expectation is now 2.2%, below our revised 5% to 10% RMZ return expectation. As such, there is no “move-in special” for investors; we recommend revisiting the stock at a more attractive entry point. Our views on the company’s operational strategy remain unchanged: we believe that the focus on occupancy will drive above-average cash flow growth in today’s weak economic environment."

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include the acquisition, development, ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use.

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