This morning, Morgan Stanley downgraded shares of Cognizant Technology (NASDAQ:CTSH) from overweight to equal weight citing valuation. The stock has gained more than 35% this year and is pushing up against the firm's price target of $63 per share.
In morning trading, shares of CTSH were lower, off a little more than 1% so far.
Citigroup lowered its price target on shares of OfficeMax (NYSE:OMX) to $18 per share following the company's weak sales guidance this week. However, despite the disappointing numbers, Citigroup still maintains its buy rating.
Shares of OfficeMax were trading lower today, losing about 1%.
And UBS remains bearish on shares of the PulteGroup (NYSE:PHM). The firm lowered its EPS estimates through 2011, despite the company's strong earnings yesterday. The firm believes the housing market will remain weak and lower sales should be expected. UBS maintains its sell rating and its $9 price target.
Shares of PHM were heading higher despite the report from UBS, gaining 0.6% today.
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