This morning, Morgan Stanley downgraded shares of Johnson Controls (NYSE:JCI) from overweight to underweight citing valuation. The stock has pushed through the firm's $40 price target, reducing the risk/reward profile for investors. On the news, shares of JCI were lower by nearly 2% today.
The Maxim Group downgraded shares of JC Penney (NYSE:JCP) from buy to hold as concerns regarding the company's slowing sales and rising debt are mounting with investors. Shares of JCP were lower again today, trading just above $9 per share.
And BMO Capital downgraded shares of Whitewave Foods (NYSE:WWAV) to an underperform rating as sales are expected to decelerate over the next few years. With the downgrade, BMO set a $17 price target. Shares of Whitewave Foods were lower by 3.2% on Monday.
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