Apartment Investment & Management Co. (NYSE: AIV) cut to Market Perform from outperform at Raymond James.
Caterpillar Inc. (NYSE: CAT) cut to Neutral from Outperform at Macquarie.
Cirrus Logic Inc. (NASDAQ: CRUS) has warned and shares are getting hit 10% lower to a new 52-week low under $20 now. We have seen that Needham cut the rating to Buy from Strong Buy. Canaccord Genuity lowered its price target down to $25 from $30, and Stifel Nicolaus may have maintained its Buy rating but it lowered its price target all the way down to $34 from $42 in calls this morning.
Deere & Co. (NYSE: DE) was cut to Neutral from Outperform at Macquarie.
Equity Residential (NYSE: EQR) was cut to Market Perform from outperform at Raymond James.
M&T Bank Corp. (NYSE: MTB) was downgraded to Market Perform from Outperform at Keefe Bruyette & Woods.
Pepco Holdings Inc. (NYSE: POM) was cut to Underperform from an already cautious Neutral rating at Credit Suisse.
Wells Fargo & Co. (NYSE: WFC) was reiterated as Sell at Argus, as the independent research firm believes that its consensus earnings estimates are currently too high, and also under the belief that the bank will continue to underperform its peers.
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