This morning, Jefferies downgraded shares of Panera Bread (PNRA) from buy to hold as the company could see a near-term decline in earnings as the company is making more investments to aid future growth. In the report, Jefferies set a price target of $195. Shares of Panera were flat on Tuesday, trading just below $174 per share.
UBS downgraded shares of Transocean (NYSE:RIG) from buy to neutral as the deepwater rig market could be experiencing a short-term bubble. With the downgrade, UBS set a $49 price target. Shares of Transocean were relatively flat today, trading around $46.50 per share.
And JP Morgan downgraded shares of Xcel (NASDAQ:XEL) from neutral to underweight as higher costs and slowing growth could weigh on earnings in the near term. With the downgrade, JP Morgan set a $27 price target. Shares of Xcel were higher on Tuesday, picking up nearly 1%.
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