Stock Analysts’ downgrades for Monday, September 23rd:
Aaron’s (NYSE:AAN) was downgraded by analysts at Stifel Nicolaus from a buy rating to a hold rating.
BlackBerry (NASDAQ:BBRY) was downgraded by analysts at Paradigm Capital from a buy rating to a hold rating. They currently have $10.50 target price on the stock, down from their previous target price of $15.00. The analysts wrote, “BlackBerry announces much lower?than?expected preliminary Q2 FY14 results…Clearly, these are very disappointing results. Despite the company’s comments around increased BES 10 penetration, we believe its deteriorating financial position could prompt enterprises to delay adoption of BB10 devices, which could further exacerbate the decline in BlackBerry’s financial situation. As such, we believe there is an even greater sense of urgency to find a strategic buyer, which could result in a quick sale of the company (with the ball being in the buyer’s court).Using a sum?of?parts(see table 1), including a value for cash, patents and enterprise customers), we arrive at a revised target price of $10.50 (was $15.00). Although we believe we are close to an end?game takeout scenario, given the modest return relative to the inherent risk in this investment (i.e. as a standalone entity), we are downgrading the stock to Hold (was Spec. Buy). We are refraining from adjusting our estimates pending the release of the full results on September 27th.”
Cherokee (NASDAQ:CHKE) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
Rockwell Collins (NYSE:COL) was downgraded by analysts at Buckingham Research from a buy rating to a neutral rating.
Catamaran Corp (NASDAQ:CTRX) was downgraded by analysts at Morgan Stanley from an overweight rating to an equal weight rating. Morgan Stanley currently has $60.00 target price on the stock. The analysts wrote, “A maturing growth profile and premium to the group likely cap CTRX’s multiple expansion opportunity. While we think mgmt will execute and grow EPS via M&A and CI, with topline CAGR moderating to 25% thru ’15 vs. 75% from ’08-’13E and given evolving PBM dynamics, we view risk-reward as balanced.”
Darden Restaurants (NYSE:DRI) was downgraded by analysts at Stephens from an overweight rating to an equal weight rating.
FedEx Corp. (NYSE:FDX) was downgraded by analysts at Stifel Nicolaus from a buy rating to a hold rating. They noted that the move was a valuation call. The analysts noted that the move was a valuation call.
Frisch’s Restaurants (NYSE:FRS) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Hooker Furniture Corp. (NASDAQ:HOFT) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
Joe’s Jeans (NASDAQ:JOEZ) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
Kingold Jewelry (NASDAQ:KGJI) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Kirkland’s (NASDAQ:KIRK) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Lakeland Industries (NASDAQ:LAKE) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
Lamar Advertising (NASDAQ:LAMR) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
MetroCorp Bancshares (NASDAQ:MCBI) was downgraded by analysts at Sandler O’Neill from a buy rating to a hold rating.
Emerson Radio (NYSE:MSN) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Nice Systems (NASDAQ:NICE) was downgraded by analysts at UBS AG from a buy rating to a neutral rating.
NXP Semiconductors (NASDAQ:NXPI) was downgraded by analysts at Goldman Sachs Group Inc. from a conviction-buy rating to a buy rating.
Oil States International (NYSE:OIS) was downgraded by analysts at Global Hunter Securities from a buy rating to a neutral rating. Global Hunter Securities currently has $92.00 target price on the stock, up from their previous target price of $81.00.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) was downgraded by analysts at Jefferies Group from a buy rating to a hold rating. They currently have $10.00 target price on the stock, down from their previous target price of $13.00.
Point.360 (NASDAQ:PTSX) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Reliv International (NASDAQ:RELV) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Prosensa Holding (NYSE:RNA) was downgraded by analysts at Wedbush from an outperform rating to a neutral rating. Wedbush currently has $7.00 target price on the stock, down from their previous target price of $50.00. The analysts wrote, “GSK and RNA announced Friday that the primary endpoint of their Phase III trial for drisapersen was not met. The company reported a difference in 6MWD of 10.33m (p=0.415) between drisapersen and placebo. Additionally, there were no treatment differences observed in key secondary assessments of motor function. Preliminary analysis of Phase III results discussed on RNA’s call suggest that the anticipated causes for concern with this trial did not result in its failure, which we believe call into question drisapersen’s therapeutic activity.”
Sinclair Broadcast Group (NASDAQ:SBGI) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Sears Hometown and Outlet Stores (NASDAQ:SHOS) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Signet Jewelers (NYSE:SIG) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
Tile Shop Hldgs (NYSE:TTS) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
Tumi Holdings (NASDAQ:TUMI) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) was downgraded by analysts at Thomson Reuters/Verus from a hold rating to a sell rating.
Vera Bradley (NYSE:VRA) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
ValueVision Media (NASDAQ:VVTV) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.
China Xiniya Fashion Ltd (NYSE:XNY) was downgraded by analysts at Thomson Reuters/Verus from a buy rating to a hold rating.