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.
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