This morning, Jefferies downgraded shares of Exelon (NYSE:EXC) from hold to underperform citing valuation. The stock is trading well above the firm's $24.50 price target, reducing the risk/reward profile. Shares of Exelon were lower by 2.1% on the news.
UBS lowered its price target on shares of Broadcom (NASDAQ:BRCM) to $27 as the company is seeing lower cellular sales and higher costs. In the report, UBS also reduced its EPS estimates, but maintained its neutral rating. Shares of Broadcom were lower by more than 7% on the news.
And Lazard Capital Markets lowered its price target on shares of EMC (NYSE:EMC) to $30 as the combination of global macroeconomic weakness and lower government spending could impact earnings. In the report, Lazard reduced its EPS estimates as well but maintained its buy rating. Shares of EMC were lower by 2.7% on Wednesday.
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