This morning, Bank of America initiated coverage on shares of Twitter (NYSE:TWTR) with an underperform rating citing valuation. In the report, Bank of America noted that the stock is trading at 21 times the 2015 expected sales and set a price target of $36. Shares of Twitter were lower on the news, falling 1.4% today.
Morgan Stanley downgraded shares of 3M (NYSE:MMM) from equal weight to underweight as organic growth is disappointing. In the report, Morgan Stanley set a $122 price target. Shares of 3M were lower on Monday, slipping 3.2% so far.
And Goldman Sachs downgraded shares of Groupon (NASDAQ:GRPN) from buy to neutral as revenue growth continues to decelerate. In the report, Goldman set a $11 price target. Shares of Groupon were lower by nearly 5% on Monday afternoon.
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