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CHANGE IN RATINGS
(CG - Get Report)
was downgraded at Citigroup to neutral from buy and given a $29 price target. Funding costs are elevated, private equity investments are tougher to make and valuation is rich, Citigroup said.
was downgraded at UBS to neutral from buy. Price target is $26. Catalysts are priced in and valuation is fair, UBS said.
(CROX - Get Report)
was downgraded at Sterne Agee to underperform. Bad management and a lack of transparency, Sterne Agee said. An undisclosed licensing agreement with an ex-CROX-executive haven, Backjoy.com, has spooked investors, Sterne Agee also said. Price target $10.
was downgraded at Bank of America/Merrill Lynch to neutral from buy. Price target is $46. Recent appreciation of the
leaves little near-term upside, so the downgrade was because of valuation, BofA/Merrill said.
was upgraded at Maxim Group to buy from hold. $73 price target. New management team is cutting costs and working to restore growth, Maxim Group said.
was downgraded to hold at TheStreet Ratings.
was downgraded at Benchmark to hold from buy. $13 price target. Company will likely have to cut pricing to grow sales, Benchmark said.
Fusion-io was downgraded at Stifel Nicolaus to hold from buy. Gross margin outlook is concerning, Stifel Nicolaus said.
Fusion-io was downgraded at Merrill Lynch to neutral. Limited visibility and margin erosion, Merrill Lynch said. Even if revenues grow, new market entrants will push down prices and shrink FIO margins, Merrill Lynch said.
(GRPN - Get Report)
was upgraded at UBS to neutral from sell. Price target is now $11. A permanent CEO and new buyback program signal more stability, UBS said.
was upgraded at J.P. Morgan to overweight from neutral. $52 price target. Improving execution is becoming more evident in stores, J.P. Morgan said.
was initiated with a neutral rating at Robert Baird. $263 price target. Valuation call, as the stock is up 170% year to date, Baird said.
(NKE - Get Report)
was initiated with an outperform rating at Wells Fargo. Company should benefit from industry trends and can expand margins, Wells Fargo said.