This morning, BMO Capital reduced its EPS estimates on shares of PepsiCo (NYSE:PEP) through 2014 as currency headwinds could impact earnings. In the report, BMO maintained its outperform rating and its $92 price target. Shares of PepsiCo were lower by 0.3% on the news.
FBR downgraded shares of Cliffs Natural Resources (NYSE:CLF) from outperform to market perform citing valuation. Over the last two months, the stock has gained more than 50%, possibly indicating that much of the upside is exhausted in the near term. Shares of CLF were lower by more than 4% on the news.
And Morgan Stanley downgraded shares of Symantec (NASDAQ:SYMC) from overweight to equal weight noting that the company lacks a near term catalyst to propel the stock higher. Shares of Symantec were lower by 0.8% following the report.
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