This morning, RBC Capital downgraded shares of Micron Technology (NASDAQ:MU) from outperform to sector perform citing valuation. The stock is currently trading above the firm's $19 price target, reducing the risk/reward profile for investors. Shares of Micron were lower by 1.3% on the news.
JMP Securities lowered its EPS estimates on shares of Toll Brothers (NYSE:TOL) through 2015 as the Shapell Homes purchase could impact earnings over the near term. In the report, JMP maintained its outperform rating and set a $44 price target. Shares of Toll Brothers were higher, despite the report, picking up 0.6% so far.
And Jefferies reduced its price target on shares of Con Ed (NYSE:ED) to $46 as proposed rate increases may not have a meaningful effect on revenue. In the report, Jefferies reiterated its underperform rating. Shares of Con Ed were lower by 0.5% on Friday.
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.