Target (NYSE:TGT): RW Baird downgraded Target to Neutral from Outperform following the company’s second-quarter results and lowered its price target for shares to $68 from $76. The firm says that profitability at Target’s Canadian operations looks delayed until at least late 2014 and that shares look fairly valued at current levels.
PetSmart (NASDAQ:PETM): RW Baird attributes PetSmart’s earnings beat in the second quarter to lower SG&A expenses and expects shares to move modestly lower given the recent rally.
Celgene (NASDAQ:CELG): RBC Capital believes that Celgene’s momentum and execution are becoming stronger. The firm expects the company’s Abraxame drug for pancreatic cancer to be approved and widely used, and it keeps an Outperform rating on the stock.
Dick’s Sporting Goods (NYSE:DKS): Imperial Capital downgraded Dick’s Sporting Goods to In-Line from Outperform, citing slowing sales trends. The firm also lowered its price target for shares to $52 from $60.
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