This morning, Cowen downgraded shares of Sprint (NYSE:S) from outperform to market perform citing valuation. The stock has crossed above the firm's price target of $8.25, reducing the risk/reward profile for investors. Shares of Sprint were lower by 3.4% on the news.
Wells Fargo downgraded shares of Apple (NASDAQ:AAPL) from outperform to market perform as the market is already pricing in better margins for 2014. Shares of Apple were lower on the news, sinking 1.2% so far.
And Goldman Sachs downgraded shares of Analog Devices (NASDAQ:ADI) to a sell rating as growth by the company is lagging the sector. In the report, Goldman set a $41 price target. Shares of ADI were lower by 2.9% on Thursday.
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