This morning, Goldman Sachs removed Tumi (NYSE:TUMI) from its conviction buy list as the stock lacks the near-term catalyst to propel it higher. In the report, Goldman set a $28 price target. Shares of Tumi were lower by 1.3% today.
Jefferies reduced its price target on shares of Aeropostale (NYSE:ARO) to $12 as the company's turnaround efforts are taking longer than anticipated. In the report, Jefferies lowered its EPS estimates, but maintained its buy rating. Shares of Aeropostale were lower by 1.9% on the news.
Deutsche Bank downgraded shares of Citigroup (NYSE:C) from buy to hold noting that fixed income flows will suffer as the Federal Reserve begins to taper. Shares of Citigroup were lower again today, falling 1.9% so far.
And Wells Fargo downgraded shares of JM Smucker (NYSE:SJM) from market perform to underperform as slowing coffee sales will impact the company's expected growth rate in 2014. Shares of SJM were lower by 2% following the report.
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