This morning, Goldman Sachs removed Tumi (TUMI) from its conviction buy list as the stock lacks the near-term catalyst to propel it higher. In the report, Goldman set a $28 price target. Shares of Tumi were lower by 1.3% today.
Jefferies reduced its price target on shares of Aeropostale (ARO) to $12 as the company’s turnaround efforts are taking longer than anticipated. In the report, Jefferies lowered its EPS estimates, but maintained its buy rating. Shares of Aeropostale were lower by 1.9% on the news.
Deutsche Bank downgraded shares of Citigroup (C) from buy to hold noting that fixed income flows will suffer as the Federal Reserve begins to taper. Shares of Citigroup were lower again today, falling 1.9% so far.
And Wells Fargo downgraded shares of JM Smucker (SJM) from market perform to underperform as slowing coffee sales will impact the company’s expected growth rate in 2014. Shares of SJM were lower by 2% following the report.