Sprint Nextel Corp. (NYSE: S): Stifel Nicolaus downgraded its rating on the company to Sell from Hold citing the company's upcoming unveiling of its 4G strategy, saying the announcement will be more expensive and complicated than previously expected. The firm argues increased level of capex will spur negative free cash flow trends which will linger for the next few years. The firm set a new $4.50 price target on the stock.
Citrix Systems (NASDAQ: CTXS): JP Morgan lowered its rating on the company to Underweight from Neutral. However, the firm raised its price target on the stock to $65 from $53.
Xilinx Inc. (NASDAQ: XLNX): Goldman Sachs upgraded the company to Neutral from Sell to Neutral and lifted its price target on the stock to $33 from $25.
Frontier Communications Corporation (NYSE: FTR): Macquarie downgraded Frontier Communications to Underperform from Neutral citing valuation and increased competition from cable MSOs in the SME space.
Expedia (NASDAQ: EXPE): Citigroup raised its price target on the stock to $33 from $29 and maintained its Buy rating.
Full disclosure: None.
