Bank Analysts Downgrade These Company Shares Today

Following is information on stock analysts’ downgrades for June 24th, 2011:

  • Luxotica (NYSE:LUX): HSBC Securities downgraded the stock from Overweight to Neutral.  The shares are trading at $30.52 and have traded in a 52-week range of $22.39 to $34.43.  Its market capitalization is $14.04 billion.  About the company:  Luxottica Group S.p.A. and its subsidiaries design, manufacture, distribute, and market traditional and designer eyeglass frames and sunglasses. The Company’s LensCrafter retail chain of optical stores operates in North America. Luxottica distributes its products around the world. The Company also sells sunglasses through its Sunglass Hut retail chain.
  • Tiffany & Co. (NYSE:TIF): HSBC Securities downgraded the stock from Overweight to Neutral.  The shares are trading at $76.06 and have traded in a 52-week range of $35.81 to $77.92.  Its market capitalization is $9.73 billion.  About the company:  Tiffany & Co. operates jewelry and specialty retail stores and designs and manufactures its products through subsidiary companies. The Company retails its products through stores and boutiques in the United States, Mexico, Canada, and Brazil, and wholesales outside the United States. Tiffany also markets through the Internet and catalogs. Competitors to Watch: Zale Corporation (NYSE:ZLC), Blue Nile, Inc. (NASDAQ:NILE), DGSE Companies, Inc. (AMEX:DGSE), Coach, Inc. (NYSE:COH), Signet Jewelers (NYSE:SIG), Amazon.com (NASDAQ:AMZN), eBay (NASDAQ:EBAY), Nordstrom (NYSE:JWN) and Macy’s (NYSE:M).
  • Coach (NYSE:COH): HSBC Securities downgraded the stock from Overweight to Neutral.  The shares are trading at $59.22 and have traded in a 52-week range of $33.75 to $64.43.  Its market capitalization is $17.38 billion.  About the company: Coach, Inc. designs, produces, and markets primarily leather goods. The Company’s products include handbags, business cases, men’s and women’s accessories, luggage and travel accessories, leather outerwear, and gloves. Coach, together with a licensing partner, offers watches, footwear, furniture, and eyewear. Competitors to Watch: Frederick’s of Hollywood Group Inc. (AMEX:FOH), Vera Bradley, Inc. (NASDAQ:VRA), Tiffany & Co. (NYSE:TIF), Fossil, Inc. (NASDAQ:FOSL), Piquadro S.p.A. (NYSE:PQ), Liz Claiborne, Inc. (NYSE:LIZ), Guess?, Inc. (NYSE:GES), Polo Ralph Lauren Corp. (NYSE:RL), Wet Seal (NASDAQ:WTSLA), and Limited Brands (NYSE:LTD).

(Note: Selected financial data are sourced from Yahoo! Finance.  All data are assumed to be accurate.)

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