Panera Bread Co. (NASDAQ:PNRA): Piper Jaffray has lowered its price target for Panera Bread to $124 from $137 and reiterates an Underweight rating on the stock in the wake of the company’s third-quarter results, as the firm believes that Panera’s fundamentals are deteriorating amid ongoing negative traffic trends.
Broadcom Corp. (NASDAQ:BRCM): Wedbush has downgraded Broadcom to Neutral from Outperform, as the firm now expects 2014 to be a rebuilding year instead of a year of growth after Broadcom revealed worse-than-expected fourth-quarter guidance. The price target has also been lowered, to $27 from $33.
Rackspace Hosting (NYSE:RAX): Oppenheimer has upgraded Rackspace to Outperform from Perform due to the firm’s expectations for a re-acceleration in cloud momentum and valuation; it has a price target of $62 on Rackspace shares.
Baxter International (NYSE:BAX): Cowen has downgraded Baxter to Market Perform from Outperform following a physician survey that raises questions regarding Baxter’s Advate defensibility. The price target is set for $67.
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