NEW YORK (TheStreet) -- RATINGS CHANGES
Ambac (AMBC) was downgraded at MKM Partners to sell from neutral. Twelve-month price target is $21. Parent company likely will not see much cash flow in the near term, MKM Partners said.
Ciena (CIEN) was downgraded at RBC Capital to sector perform from outperform. Twelve-month price target is $28. Company is gaining market share, but higher sales have yet to boost earnings, RBC Capital said.
Citigroup (C) was downgraded at Societe Generale to hold from buy. Twelve-month price target is $52. Company is returning less capital to investors, Societe Generale said.(EXA) was downgraded to sell at TheStreet Ratings. Blackhawk (HAWK) was downgraded at Piper Jaffray to neutral from overweight. Twelve-month price target is $26. Company faces growth headwinds, Piper Jaffray said. JDS Uniphase (JDSU) was downgraded at RBC Capital to sector perform from outperform. Valuation call, based on a 12-month price target of $15. PG&E (PCG) was downgraded at Deutsche Bank to hold from buy. Twelve-month price target is $45. San Bruno case could continue to hang over the stock, Deutsche Bank said. (RDY) was upgraded to buy at TheStreet Ratings.
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