MOST NOTEWORTHY: Pfizer Inc (PFE), Exxon Mobil Corp (XOM), ConocoPhillips (COP), Xerox Corp (XRX), and Amazon.com, Inc (AMZN) were some of today's noteworthy downgrades:
- Prudential downgraded shares of Pfizer Inc (NYSE: PFE) to Neutral from Overweight with a $29 target to reflect concerns about competition from generic medications and a lack of new products.
- Citigroup downgraded shares of Xerox Corp (NYSE: XRX) to Sell from Hold as the firm believes the acquisition of Global Systems could hurt profits in the short-term. The broker recommended trimming positions of Xerox on any strength.
- Amazon.com (NASDAQ: AMZN) was cut to Underperform from Market Perform at Piper Jaffray based on valuation...
OTHER DOWNGRADES:
- Stifel lowered its rating of Jones Soda Co (NASDAQ: JSDA) to Hold from Buy on valuation.
- Deutsche Bank downgraded shares of Chevron Corp (NYSE: CVX) to Sell from Hold based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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