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Downgrades: MGM, PFG, DHI
Wednesday, August 4, 3:49 PM ET

This morning, UBS reduced its price target on shares of MGM Resorts (NYSE:MGM) to $12 per share as the firm believes costs are on the rise. In the report, UBS lowered its EPS estimates, but maintained its neutral rating.

Shares of MGM were heading higher by over half a percent.

Bank of America lowered its price target on shares of the Principal Financial Group (NYSE:PFG) from $40 per share down to $37 as earnings missed the mark. In the report, however, Bank of America is still bullish on the stock, reiterating its buy rating.

PFG shares were trading lower by nearly nine tenths of a percent.

And Citigroup lowered its price target on shares of DR Horton (NYSE:DHI) to $12.50 per share following the company's quarterly conference call. The firm felt management sent a bearish message to investors during the call prompting the price target revision.

In morning trading, shares of DHI were trading higher by nearly six tenths of a percent.

For MarketNewsVideo.com, I'm Sayoko Murase.

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