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Facebook and Movado Downgraded, Deutsche Initiates Drugmakers

In Tuesday's Analysts' Actions, top downgrades include Facebook (FB) and Movado (MOV) while Deutsche Bank initiates pharmaceutical companies.

In Tuesday's Analysts' Actions, top downgrades include Facebook and Movado while Deutsche Bank initiates pharmaceutical companies. Facebook (FB) is now rated a 'Neutral', down from 'Buy' at Janney Montgomery Scott. The firm says the social media company is facing valuation headwinds in 2015. The price target of $82.50 a share remains. Deutsche Bank is now covering the drug making sector. The firm is starting Pfizer (PFE) and Eli Lily (LLY) with 'Buy' ratings. But Deutsche Bank is starting coverage of Bristol-Myers Squibb (BMY) and Merck (MRK) with 'Hold' ratings. High-end watchmaker Movado (MOV) was downgraded to 'Equal Weight' from 'Overweight' at Stephens. The analyst there also lowered the price target to $44 from $52 a share citing decreased visibility on Movado's sales in second half of the year.

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