Analysts' Actions: AMBC, CIEN, C, JDSU, PCG

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 (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.

Dr. Reddy Laboratories (RDY) was upgraded to buy at TheStreet Ratings.

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