This morning, UBS downgraded shares of Automatic Data Processing (NASDAQ:ADP) from buy to neutral citing valuation. The stock is approaching the firm's $59 price target, leaving less upside for investors.
Shares of ADP were lower on the news, falling 1.1% today.
And Credit Suisse downgraded shares of Anixter International (NYSE:AXE) from neutral to underperform as growth from Europe could be slower than anticipated. With the downgrade, Credit Suisse set a price target of $60 per share.
Shares of Anixter lower on Tuesday, falling over 4% on the downgrade.
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