This morning, Morgan Stanley downgraded shares of Zillow (NASDAQ:Z) from equal weight to underweight as questions regarding where future growth will come from remain unanswered. In the report, Morgan Stanley set a $70 price target. Shares of Zillow were lower by 1.1% on the news.
Jefferies reduced its price target on shares of Broadcom (NASDAQ:BRCM) to $34 as the Renesas acquisition will increase operating expenses. In the report, Jefferies lowered its EPS estimates as well, but maintained its buy rating. Shares of Broadcom were higher by 2.3% today.
And Morgan Stanley also downgraded shares OpenTable (NASDAQ:OPEN) from equal weight to overweight citing valuation. The stock has pushed through the firm's $60 price target, altering the risk/reward profile for investors. Shares of OpenTable were lower by 2% following the report.
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