This morning, Stifel Nicolaus downgraded shares of Iron Mountain (NYSE:IRM) from buy to hold as the company's chances of converting into a REIT are declining. Shares of Iron Mountain were lower by more than 15% on the news.
Nomura downgraded shares of Sprint Nextel (NYSE:S) to a neutral rating citing valuation. Shares of Sprint Nextel are approaching the firm's $7.50 price target creating a less favorable risk/reward profile. Shares of Sprint Nextel were flat on Friday.
And Piper Jaffray downgraded shares of Intel (NASDAQ:INTC) from neutral to underweight as improving market sentiment will not overcome the decline in PC sales. In the report, Piper set a $20 price target. Shares of Intel were relatively flat today, trading just below $25 per share.
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