Downgrades for JC Penney, Darden and Freescale Semiconductor

Bearish calls for JC Penney (JCP), Darden Restaurants (DRI) and Freescale Semiconductor (FSL) for Monday's Analysts' Actions. UBS downgraded JC Penney to SELL from NEUTRAL on its view the retailer simply lacks merchandise newness. The firm also slashed its price target in half to $5 from $10. That's about 30% lower than where the stock is currently trading since shares are getting a nice lift after naming its successor as Marvin Ellison. The UBS analyst made this call before the announcement and has yet to share any revisions on this downgrade. Darden Restaurants was downgraded at Piper Jaffray to NEUTRAL from OVERWEIGHT. The price target was also lowered to $50 from $55. The firm says the overhaul of the chain's board is prompting them to take a more cautious stance. Pacific Crest downgraded Freescale Semicondutor to a SECTOR PERFORM from OUTPERFORM based on weak demand from China and 'evidence of inventory corrections at distributors.' The price target is set at $31 dollars a share.