This morning, Goldman Sachs reduced its price target on shares of JC Penney (NYSE:JCP) to $7 as the retailer continues to see sales weakness. In the report, Goldman lowered its EPS estimates as well, but maintained its neutral rating. Shares of JCP were lower by 2.4% on Friday.
JP Morgan downgraded shares of PulteGroup (NYSE:PHM) to an underweight rating as the homebuilder may has pushed its margins to the maximum in the near term. Shares of PHM were higher today, despite the report, gaining 2.4%.
FBR Capital downgraded shares of Las Vegas Sands (NYSE:LVS) from outperform to market perform as Wall Street earnings estimates may have become too bullish. With the downgrade, FBR set an $85 price target. Shares of Las Vegas Sands were lower by 0.8% on Friday.
And Keybanc downgraded shares of Fossil (NASDAQ:FOSL) from hold to underweight as the company continues to see weakness with domestic wholesale demand. In the report, Keybanc set a $100 price target on the stock. Shares of Fossil were lower on the news, falling 1.7% today.
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