This morning, Bank of America downgraded shares of Apple (NASDAQ:AAPL) from buy to neutral following the company's product announcement yesterday. The report noted that Apple failed to address the lower-end market that accounts for most of China and India with its expensive smartphones. With the downgrade, Bank of America set a $520 price target. Shares of Apple were falling on Wednesday, off nearly 5% so far.
Credit Suisse reduced its price target on shares of ConAgra (NYSE:CAG) to $36 following the company's revision to its earnings guidance. In the report, Credit Suisse maintained its neutral rating. Shares of ConAgra were lower by about 1% on the news.
And Jefferies downgraded shares of ConEd (NYSE:ED) from buy to hold as margins from the retail segment could be pressured in the near term. With the downgrade, Jefferies set a $58 price target. Shares of ConEd were lower by 1.5% today.
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