MOST NOTEWORTHY: Home Depot (HD) and Lowe's (LOW) led a modest downgrade list Monday, as the Dow and Nasdaq moved higher in early trading.
- UBS Investment downgraded to Reduce From Neutral both Lowe's Companies, Inc. (NYSE:LOW), target lowered to $24 from $30, and Home Depot, Inc. (NYSE:HD), target to $32 from $37, citing further weakness n the U.S. housing market.
- Bernstein downgraded both Intel Corp. (NASDAQ:INTC) to Underperform from Market Perform, target is $17; and National Semiconductor Corp. (NYSE:NSM), to Market Perform from Market Perform, target is $26, citing concerns over demand and inventory build in the sector.
OTHER DOWNGRADES:
- BMO Capital downgraded Duke Energy (NYSE:DUK) to Market Perform from Outperform, following Q3 results and due to the company's outlook.
- Finally, Matrix downgraded Newmont Mining (NYSE:NEM), citing increased costs and valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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