MOST NOTEWORTHY: Diebold, EOG Resources and Barnes & Noble were today's noteworthy downgrades:
- Jefferies downgraded shares of Diebold (NYSE: DBD) to Hold from Buy on valuation following United Tech's (NYSE: UTX) offer, as they do not see enough upside over the near-term to maintain a Buy rating.
- Oppenheimer cut EOG Resources (NYSE: EOG) to Underperform from Perform on valuation, as they think the 20% run-up post analyst meeting was unjustified.
- Barnes & Noble (NYSE: BKS) was lowered to Underweight from Neutral at JP Morgan, as they believe Street SSS expectations are too high given slowing sales and secular margin pressure.
OTHER DOWNGRADES:
- Lehman downgraded ConocoPhillips (NYSE: COP) to Equal Weight from Overweight. Credit Suisse downgraded Deerfield Triarc Capital (NYSE: DFR) to Neutral from Outperform.
- Best Buy (NYSE: BBY) was downgraded to Neutral from Buy at Banc of America.
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