This morning, BMO downgraded shares of Merck (NYSE:MRK) from outperform to market perform as certain drugs in the company's portfolio could begin to see increased competition. With the downgrade, BMO set a $51 price target. Shares of MRK were lower by 1.3% today.
Morgan Stanley downgraded shares of SanDisk (SNDK) from overweight to equal weight citing valuation. While Morgan Stanley did increase its price target to $66 in the report, the firm noted that the stock is trading at a rich premium to the sector. Shares of SanDisk were headed higher on Thursday, gaining 2.7%.
And Lazard Capital Markets reduced its price target on shares of Intel (NASDAQ:INTC) to $27 following disappointing guidance from the company on Wednesday evening. In the report, Lazard also lowered its EPS estimates, but maintained its buy rating. Shares of Intel were lower by 3.7% today.
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