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Analyst downgrades: TGT, NVTL and EMAG

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.

Analyst downgrades 5-14-07: GOOG, PETM and RDY

MOST NOTEWORTHY: PetSmart, Inc (PETM), Google (GOOG), Dr. Reddy's Laboratories Ltd (RDY) and Optimal Group Inc (OPMR) were today's more noteworthy downgrades:
  • First Global downgraded shares of Google Inc (NASDAQ: GOOG) to Market Perform from Outperform.
  • Morgan Stanley downgraded shares of Dr. Reddy's Laboratories (NYSE: RDY) to Equal-Weight from Overweight after a U.S. court ruling appeared set to block generic competition to Japanese company Eisai Co, Ltd's (ESALY) ulcer drug Aciphex.
  • B. Riley downgraded shares of Optimal Group (NASDAQ: OPMR) to Neutral from Buy to reflect increasing uncertainty regarding further legal actions, which may be taken by the U.S. Attorney's office against the company...
OTHER DOWNGRADES:
  • Teck Cominco Ltd (NYSE: TCK) was downgraded to Sector Performer from Sector Outperformer at CIBC.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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Last updated: February 13, 2012: 10:51 AM

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