Company is focused on generating global growth. Medicis ( MRX ) downgraded at Canaccord from Buy to Hold, Canaccord Genuity said. $36 price target. Company lacks near-term catalysts. M&T Bank ( MTB ) downgraded at BofA/Merrill from Buy to Neutral, Bank of America/Merrill Lynch said. $80 price target. Estimates also cut, because of higher expenses. Oracle ( ORCL ) downgraded at BMO from Outperform to Market Perform, BMO Capital Markets said. $30 price target. Overall software spending, especially for larger middleware projects, slowed in the second half of November. Pandora ( P ) rated new Buy at Needham. $13 price target. Company is leveraged to multiple secular growth trends. Principal Financial ( PFG ) downgraded at Goldman from Buy to Neutral, Goldman Sachs said. Company lacks near-term catalysts.