This morning, UBS downgraded shares of Costco (NASDAQ:COST) from buy to neutral citing valuation. The stock is approaching the firm's $124 price target, reducing the risk/reward profile for investors. Shares of Costco were lower on Tuesday, falling 0.9% so far.
Cowen downgraded shares of FedEx (NYSE:FDX) from outperform to market perform, also citing valuation. The stock has climbed within a few dollars of the firm's $136 price target, reducing the potential upside for investors in the near term. Shares of FedEx were higher, despite the report, climbing nearly 2% today.
And Macquarie downgraded shares of Symantec (SYMC) from outperform to neutral noting that the company continues to lose executives. In the report, Macquarie set a $24 price target. Shares of Symantec were lower on the news, falling 3.2% today.
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