This morning, UBS reduced its EPS estimates on shares of First Solar (NASDAQ:FSLR) as two new projects have been delayed until next year. In the report, UBS also lowered its price target to $48. Shares of First Solar were sharply lower on Wednesday, falling nearly 14%.
Jefferies lowered its 2013 EPS estimates on shares of Vivus (NASDAQ:VVUS) following weak second quarter results. In the report, Jefferies set a $5 price target and maintained its underperform rating. Shares of Vivus were lower by 5.5% on the news.
Cantor Fitzgerald downgraded shares of CVS Caremark (NYSE:CVS) from buy to hold citing valuation. The stock is approaching the firm's $62 price target, leaving less upside for investors. On Wednesday, shares of CVS dipped 1.7% to just below $59.
And Bank of America downgraded shares of Marathon Oil (NYSE:MRO) from buy to neutral, also citing valuation. In the report, Bank of America noted that the stock is nearing the firm's $42 price target, reducing the risk/reward profile. Shares of MRO were lower by 5.3% on the news.
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