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MOST NOTEWORTHY: Momenta Pharmaceuticals, Interpublic Group, Lionbridge, PetroChina and Collagenex were today's noteworthy downgrades: - Deutsche Bank downgraded shares of Momenta Pharmaceuticals Inc (NASDAQ: MNTA) to Hold from Buy and lowered their target to $6 following the FDA's non-approvable letter for M-Enox.
- Banc of America downgraded shares of The Interpublic Group of Companies Inc (NYSE: IPG) to Neutral from Buy to reflect the economic uncertainty and concerns regarding the company's relative revenue growth.
- Lionbridge Technologies Inc (NASDAQ: LIOX) was downgraded to Sell from Neutral at Goldman Sachs following disappointing Q3 results and guidance.
- Credit Suisse downgraded PetroChina Company Limited (NYSE: PTR) to Underperform from Neutral based on lack of catalysts.
- Jefferies lowered its rating on Collagenex Pharmaceuticals Inc (NASDAQ: CGPI) to Hold from Buy to reflect a lack of near-term catalysts given the company's thin pipeline.
- JP Morgan removed Cognizant Technology Solutions Corporation (NASDAQ: CTSH) from its Focus List and downgraded Performance Food Group Company (NASDAQ: PFGC) to Underweight from Overweight.
- Friedman Billings downgraded Charlotte Russe Holding Inc (NASDAQ: CHIC) to Market Perform from Outperform.
- Jefferies downgraded Forest Oil Corporation (NYSE: FST) to Hold from Buy.
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