This morning, Sterne Agee lowered its price target on shares of NetApp (NASDAQ:NTAP) to $38 as the company is seeing difficulties with product growth trends. In the report, Sterne Agee maintained its neutral rating. Shares of NetApp were modestly lower today, falling 0.2% on the news.
UBS lowered its price target on shares of Cisco (NASDAQ:CSCO) to $26.50 after the company reported weaker-than-expected sales last night. In the report, UBS lowered its EPS estimates but maintained its buy rating. Shares of Cisco were sharply lower today, falling more than 12% today.
And Sterne Agee also downgraded shares of Lululemon (NASDAQ:LULU) to an underperform rating citing valuation. The stock is trading well above the firm's $56 price target and has a P/E ratio of 27 based on 2014 earnings estimates. Shares of Lululemon were lower by about 4% on Thursday.
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