Citigroup downgraded shares of apartment REIT Home Properties (HME) from Buy to Hold this morning on valuation. With the downgrade, however, the firm raised its price target from $34 per share up to $40 per share. The stock has run up more than twenty percent since mid-July, breaking past the firm's previous price target, prompting the downgrade.
In morning trading, shares of Home Properties were not participating in the general market rally, trading at close to even.
Soleil downgraded shares of Comcast (NASDAQ:CMCSA) from Buy to Hold this morning. After the company announced earnings earlier this week, the firm's analysts were concerned about the lower subscriptions in the second quarter and prompted the downgrade. With the downgrade, Soleil set its price target at $16 per share.
Shares of Comcast were trading slightly lower this morning, off about one half of one percent.
And Goldman Sachs downgraded shares of Genzyme (GENZ) from Sell to the firm's lowest rating of Conviction Sell. Goldman believes setbacks at the Allston manufacturing plant will limit the company's long term growth prospects. With the downgrades, the firm lowered its price target from $52 per share down to $44 per share.
In morning trading, shares of Genzyme were trading down by more than one and a half percent.
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