This morning, JP Morgan downgraded shares of Clorox (NYSE:CLX) from neutral to underweight citing valuation. In the report, JP Morgan notes that the stock is trading at a P/E ratio of 20 which is very high compared to the sector. Shares of Clorox were lower on the news, falling 1.8% so far.
RBC Capital downgraded shares of Baker Hughes (NYSE:BHI) from outperform to sector perform as margin growth could slow in 2014. With the downgrade, RBC set a $60 price target. Shares of Baker Hughes were lower on Wednesday, falling 1.5%.
And BMO Capital downgraded shares of Eli Lilly (NYSE:LLY) from market perform to underperform as the clinical pipeline will likely yield lower results in 2014. With the downgrade, BMO set a $50 price target. Shares of Eli Lilly were lower by 0.8% today.
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.