This morning, JP Morgan downgraded shares of AT&T (NYSE:T) from overweight to neutral as domestic competition remains fierce the the possibility of a large M&A deal still looms on the horizon. In the report, JP Morgan set a $38 price target. Shares of AT&T were lower on Wednesday, falling 1.1% on the news.
Morgan Stanley downgraded shares of Suntrust (NYSE:STI) from overweight to equal weight as the stock is already pricing in future improvements to cost controls. In the report, Morgan Stanley set a $40 price target. Shares of STI were lower today, falling 1.2% so far.
And Goldman Sachs downgraded shares of Citigroup (NYSE:C) from buy to neutral as shares may stay range-bound through 2014. In the report, Goldman Sachs set a $60 price target on the stock. Shares of Citigroup were lower by 0.7% on Wednesday.
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