This morning, Jefferies reduced its price target on shares of Baker Hughes (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 (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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