This morning, Wedbush Morgan downgraded shares of Burger King Holdings (NYSE:BKC) from Neutral to Underperform as tensions between the franchise owners and the company are mounting. The recent conference call by the National Frachisee Association and recent lawsuits against the company put future growth at risk. With the downgrade, Wedbush Morgan lowered its price target from $19 per share down to $17.
Shares of Burger King Holdings slumped in morning trading, down more than two percent.
Investment firm Sanford C. Bernstein downgraded shares of Baidu (NASDAQ:BIDU) from Outperform to Market Perform. The firm belives the stock price has finally caught up to the company's fundementals and raised its price target to $460 per share leaving some upside left for investors.
In morning trading, shares of Baidu were trading lower, off about two percent this morning.
And Morgan Stanley downgraded shares of SuperValu (NYSE:SVU) from Equal Weight to Underweight. The investment firm sees the company struggling to improve its grocery business and set a price target of $13 per share. In the same report, Morgan Stanley upgraded shares of Safeway (NYSE:SWY) from Underweight to Equal Weight as the firm sees improvements in price positioning.
Shares of SuperValu were trading lower by about three and a half percent following the downgrade, while shares of Safeway were trading higher by almost one percent.
For MarketNewsVideo.com, I'm Nichole Dossous.
