This morning, Standpoint Research downgraded shares of Hewlett Packard (HPQ) from buy to hold as the stock hit a ten year high this week. The firm expects the stock to track the S&P 500's growth over the next few months and does not see any catalysts for breakout growth in the short term. With the downgrade, Standpoint set a price target of $60 per share.
In morning trading, shares of Hewlett Packard were drifting lower, off about 0.5% so far today.
And Well Fargo downgraded shares of asset manager Eaton Vance (EV) from outperform to market perform citing valuation. Eaton Vance's share price has outpeformed peers over the past six months and should be fairly valued at this point in time. With the downgrade, Wells Fargo set a valuation range of $35 to $36 per share.
Shares of Eaton Vance were trading modestly lower on the downgrade, off 0.3% this morning.
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