This morning, BMO Capital reduced its price target on shares of M&T Bank (NYSE:MTB) to $115 as delays surrounding the Hudson City Bancorp (HCBK) merger are concerning. In the report, BMO lowered its EPS estimates, but maintained its market perform rating. Shares of MTB were lower by 1.9% following the report.
Bank of America downgraded shares of Avon Products (NYSE:AVP) from buy to neutral as the company's turnaround efforts may take longer than originally anticipated. In the report, Bank of America seta price target of $18.50. Shares of AVP were lower on Wednesday, falling 1.3% so far.
Jefferies downgraded shares of El Paso Electric (NYSE:EE) from buy to hold as delays to the Montana Power Station will lower expected earnings. In the report, Jefferies set a $37 price target. Shares of El Paso Electric were lower by 2.1% today.
And Nomura downgraded shares of Global Payments (NYSE:GPN) to a neutral rating as the stock is approaching the firm's $66 price target. Shares of GPN were lower by 1.9% on the news.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.