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 (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 (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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