DSL: Moors & Cabot Upgrades Shares of Downey Financial (DSL) to a Hold Rating and $57 Price Target Based on Valuation

DSL: Moors & Cabot Upgrades Shares of Downey Financial (DSL) to a
Hold Rating and $57 Price Target Based on Valuation 


BOSTON, Jan. 18  /PRNewswire/ -- Moors & Cabot upgrades shares of Downey
Financial (DSL) to a Hold rating and $57 price target based on valuation.  The
company's results were strong across the board with Downey beating our earnings
estimate on a better-than-expected net interest margin, higher average loan
balances, a better-than-expected gain on sale of loans margin, strong real
estate income and a negative provision. Although we believe some of these items
are nonrecurring in nature, the underlying results are nonetheless stronger
than we expected, resulting in our upgrade to a Hold from Sell.

  Contact: Scott Carmel, 617.314.0287
  http://www.moorscabot.com/

  About Moors & Cabot


Moors & Cabot's financial institution and technology coverage universe reflects
the progressive nature of our market economy.  Moors & Cabot's financial
institution analysts specialize in the bank and thrift sectors. Moors & Cabot's
technology analysts focus on accelerated growth companies in rapidly growing
industries such as medical technology, biotechnology, semiconductors, wireless
equipment and services, computer and business services and computer software.

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one of the nation's oldest independent members of the New York Stock Exchange.
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With over a century of experience and expertise, Moors & Cabot continues to
serve in the tradition of its founding fathers. Our core principles of
integrity, honesty, respect and loyalty are as important today as they were
more than a hundred years ago.

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Moors & Cabot is a member of the National Association of Securities Dealers,
CRD number 594. 

DATASOURCE: Moors & Cabot



CONTACT:  Scott Carmel of Moors & Cabot, [phone]



Web site:  http://www.moorscabot.com/ 

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