This morning, Bernstein downgraded shares of Bank of America (NYSE:BAC) from outperform to market perform citing valuation. The stock has climbed more than 50% since mid-December and is approaching the firm's $9 price target.
Shares of BAC were shaking off the downgrade and have advanced by 1.4% so far today.
And Deutsche Bank downgraded shares of Arbitron (NYSE:ARB) from buy to hold as concerns about the core business extend past 2012. With the downgrade, Deutsche Bank set a price target of $38 per share.
In morning trading, shares of Arbitron were lower by 1.9%.
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