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Downgrades: Hot Topic, ASM International Thursday, November 19, 3:40 PM ET
This morning, both Piper Jaffray and Citigroup downgraded shares of retailer Hot Topic (NASDAQ:HOTT) as both firms remained concerned about what is next for the company. The retailer saw sales spike following the success of the Twilight saga, but caution investors to remain cautious until more visibility for future sales growth is established. Piper Jaffray downgraded shares of Neutral to Underweight with a $6 price target, while Citigroup downgraded shares from Neutral to Sell with a $5 price target.
Shares of Hot Topic were falling in morning trading, off more than twelve percent so far today.
And Goldman Sachs downgraded shares of ASM International (NASDAQ:ASMI) from Conviction Buy to Neutral as the stock price has climbed lately. The firm feels that shares are fairly valued, but did raise its price target to 19 Euro, or about $28 per share.
In morning trading, shares of ASM were trading lower, off more than four and a half percent following the downgrade.
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