BlackBerry (NASDAQ:BBRY): Canaccord lowered BlackBerry’s price target to $7 from $9 based on sum-of-the parts valuation and the belief that the potential sale to Fairfax Financial will be concluded at around $7 per share following further due diligence. The shares are Hold rated.
BankUnited (NYSE:BKU): After meeting with BankUnited’s CFO and COO, Wells Fargo is more confident that BankUnited represents the single most compelling growth story in mid-cap banks. The firm believes the bank’s build-out of its New York operations provide it with a compelling opportunity, and Wells thinks that its loan growth can exceed expectations in 2014. Wells keeps an Outperform rating on the shares.
Panera Bread (NASDAQ:PNRA): Morgan Stanley downgraded Panera Bread to Equal Weight from Overweight. The analyst downgraded shares following survey results that suggest that consumers have a low value perception and are not pleased with pricing.
Achillion (NASDAQ:ACHN): William Blair downgraded Achillion to Market Perform from Outperform and lowered its price target for shares to $5 from $14, citing the sovaprevir clinical hold and the initial RVR results of the Phase II 007 study. This is the fourth downgrade of the company by Wall Street firms on Monday.