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MOST NOTEWORTHY: Target, Novatel Wireless and Emageon were today's noteworthy downgrades:
- Citigroup downgraded shares of Target (NYSE:TGT) to Sell from Hold as they believe the company could continue to face macro headwinds, credit deterioration, and merchandising pressures. They also see increased risk with Target's credit card portfolio.
- JMP Securities cut Novatel Wireless (NASDAQ:NVTL) to Market Perform from Outperform citing mixed Q4 results and guidance.
- Emageon (NASDAQ:EMAG) was downgraded to Market Perform from Outperform at Friedman Billings following its weak Q4 report and guidance.
OTHER DOWNGRADES:
- Goldman downgraded Norsk Hydro (NHYDY) to Neutral from Buy and removed shares from their Pan-Europe Buy List.
- Oppenheimer lowered SunTrust Banks (NYSE:STI) to Underperform from Perform.
- PetMed Express (NASDAQ:PETS) was downgraded to Sell from Neutral at Piper Jaffray.
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