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By Market News Video Staff, Wednesday, January 12, 12:54 PM ET
This morning, Goldman Sachs downgraded shares of AT&T (NYSE:T) from buy to neutral as the company is expected to grow at a slower rate than rival Verizon (NYSE:VZ). With the downgrade, Goldman Sachs set a price target of $32 per share.
In afternoon trading, shares of AT&T were higher with the markets, picking up 1% so far today.
And Sterne Agee downgraded shares of Zions Bancorp (NASDAQ:ZION) from neutral to sell as the company is still not stable enough to repay TARP funds. With the downgrade, the firm lowered its EPS estimates and set a price target of $20 per share.
ZION shares were lower on Wednesday, falling almost 1% while the general markets rallied.
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