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MOST NOTEWORTHY: American Capital, Realty Income and KKR Financial were today's noteworthy downgrades:
- Jefferies downgraded American Capital (NASDAQ: ACAS) to Underperform from Hold as they see a disproportionate risk profile in the company's current portfolio when compared to most peers.
- Banc of America cut Realty Income (NYSE: O) to Sell from Neutral as they believe the current valuation is not sustainable.
- Bear lowered KKR Financial (NYSE: KFN) to Peer Perform from Outperform following the company's announcement that it intends to sell 20M shares in a public offering.
OTHER DOWNGRADES:
- Goldman cut PepsiCo (NYSE: PEP) to Neutral from Buy.
- RBC Capital downgraded Avocent (NASDAQ: AVCT) to Sector Perform from Outperform.
- JP Morgan removed NICE Systems (NASDAQ: NICE) from its Focus List.
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