This morning, JP Morgan downgraded shares of Kellogg (NYSE:K) from neutral to underweight as revenue concerns could weigh on the share price going forward. With the downgrade, JP Morgan set a $60 price target. Shares of Kellogg were lower by 1.2% on the news.
Goldman Sachs downgraded shares of Fifth Third (NASDAQ:FITB) from buy to neutral noting that the company's earnings are leveraged to mortgage activity and a continued slowdown could impact future earnings reports. Shares of Fifth Third were lower by 0.3% on Tuesday.
And Wedbush Morgan downgraded shares of Steve Madden (NASDAQ:SHOO) from outperform to neutral citing valuation. The stock is approaching the firm's $55 price target, reducing the risk/reward profile for investors. On the news, shares of Steve Madden were lower by 1.8%.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.