This morning, Barclays lowered its price target on shares of Merck (MRK) from $43 down to $41 as the company doesn't have many revenue drivers coming to market this year or next. With the lower price target, however, Barclays maintained its overweight rating.
Shares of Merck were flat on the news, trading lower by just a penny on Monday.
And Citigroup lowered its price target on shares of Phillips-Van Heusen (PVH) to $82 as margins pressure could impact earnings this year. With the lower price target, Citigroup reduced its EPS estimates, but maintained its buy rating.
Shares of PVH were higher despite the report, gaining 2.4% today.
The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=201101Downgrades012411&mv=1.
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