Mr. Jay Iannello

UBS Warburg analyst Jay Iannello cut his rating on Dynegy's stock to "hold" from "strong buy."

"In short, we have seen too much, at one time, at the wrong time," he said, adding that the downgrade reflected the recent string of surprises from the company that have now substantially eroded its once industry-leading credibility.

Mr. Iannello said the shares could come under further pressure if the company's credit ratings were to be downgraded to non-investment status.

Dynegy cut its full-year profit outlook on continued weakness in the telecommunications and technology sector to US$2 to US$2.05 a share from a previous estimate of $2.26.The average analyst estimate was $2.23 a share, according to First Call.

UBS Warburg analyst Jay Iannello cut his rating on Dynegy's stock to "hold" from "strong buy."

"In short, we have seen too much, at one time, at the wrong time," he said, adding that the downgrade reflected the recent string of surprises from the company that have now substantially eroded its once industry-leading credibility.

Yanello said the shares could come under further pressure if the company's credit ratings were to be downgraded to non-investment status.

Dynegy cut its full-year profit outlook on continued weakness in the telecommunications and technology sector to $2 to $2.05 a share from a previous estimate of $2.26 a share.The average analyst estimate was $2.23 a share, according to First Call.

UBS Warburg analyst Jay Iannello cut his rating on Dynegy's stock to "hold" from "strong buy."

"In short, we have seen too much, at one time, at the wrong time," he said, adding that the downgrade reflected the recent string of surprises from the company that have now substantially eroded its once industry-leading credibility.

Yanello said the shares could come under further pressure if the company's credit ratings were to be downgraded to non-investment status.

Dynegy cut its full-year profit outlook on continued weakness in the telecommunications and technology sector to $2 to $2.05 a share from a previous estimate of $2.26 a share.The average analyst estimate was $2.23 a share, according to First Call.