Intel Corp. (NASDAQ: INTC): Goldman Sachs on Wednesday downgraded its rating on the company to Sell from Neutral, citing valuation and looming excess supply. The firm slashed its price target on the stock to $20 from $21.
Cisco (Nasdaq: CSCO): Janney Montgomery Scott initiated coverage on the company with a Neutral rating and a prc target of $18t. The firm believes that issues with "the product and market transitions in switching..." will take another year to clear up. As a result, the firm sees uncertainty related to Cisco's margin structure and growth profile.
EMC Corp. (NYSE: EMC): Janney Montgomery Scott initiated coverage on the company with a Buy rating and a $34 price target. The firm sees EMC leveraging its "best-in-class products" given solid relations with customers "and a go-to-market team of more than 12,000 sales professionals."
Suntech Power (NYSE: STP): Collins Stewart downgraded the company to Neutral from Buy citing poor solar demand and ASP concerns.
Staples Inc. (NASDAQ: SPLS): Oppenheimer downgraded Staples to Perform from Outperform. The firm cut its price target on the company to $19 from $26.
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