This morning, Citigroup downgraded shares of Colonial Properties Trust (CLP) from buy to neutral following the recent acquisition announcement by Mid-America Apartments (MAA). In the report, Citigroup set a price target of $25.25 per share. Shares of CLP were higher by 0.7% today as the buyout is an all-stock deal.
And UBS lowered its price target on shares of Zynga (ZNGA) to $3.30 following the company's announcement that it would be reducing it workforce by 18% to cut costs. In the report, UBS also lowered its EPS estimates. Shares of Zynga were higher by 1.3% today.
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