SunPower Corporation (NASDAQ: SPWRA): Lazard Capital analyst Sanjay Shrestha on Monday downgraded its rating on the company to Neutral from Buy. In a research note to clients, the analyst contends that deterioration in the Euro market brought on by debt contagion will eventually affect demand, especially in the all-important Italian solar market.
MEMC Electronic Materials (NYSE: WFR): Auriga on Monday initiated coverage on the company with a Buy rating and a price target of $11.
Pepsico (NYSE: PEP): Goldman Sachs downgraded the company to Neutral from Conviction Buy. The firm also cut its price target on the stock to $74 from $83. The firm said that it now expects lower North American beverage profit as "intensified competition from Coca-Cola (NYSE: KO) and a tough macro environment has led to softer-than-expected price realization."
Safeway Inc. (NYSE: SWY): Goldman Sachs this morning downgraded Safeway to Sell from Neutral, citing valuation, inflation pressures, and moderating top-line growth. The firm slashed its price target on the stock to $20 from $25.
Pandora Media, Inc. (NYSE: P): JPMorgan on Monday initiated coverage on the company with an Overweight rating and a price target of $22.
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