This morning, Jefferies reduced its price target on shares of Baker Hughes (NYSE:BHI) to $60 after the oil services company lowered its own guidance. In the report, Jefferies lowered its EPS estimates as well. Shares of BHI were relatively flat this morning, trading just above $53 per share.
BMO Capital downgraded shares of Regeneron Pharmaceuticals (NASDAQ:REGN) from outperform to market perform as the pipeline will take longer to realize value for shareholders. In the report, BMO set a $331 price target. Shares of Regerneron Phramaceuticals were lower by 3.5% on the news.
UBS downgraded shares of PetSmart (NASDAQ:PETM) from buy to neutral following the departure of the company's chief operating officer. In the report, UBS noted that the retailer is having trouble gaining market share and set a $72 price target. Shares of PetSmart were lower by 2.4% today.
And Credit Suisse downgraded shares of New Gold (AMEX:NGD) from outperform to neutral citing valuation. The stock is nearing the firm's $6.50 price target, leaving less upside for investors. Shares of New Gold were lower by 0.7% on Wednesday.
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