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Friday, November 18, 2011

Marvell (MRVL) (NSC) (NTAP) (PERY) (PGR) (RMBS) Downgraded

Marvell Technology Group (NASDAQ: MRVL), Norfolk Southern Corp. (NYSE: NSC), NetApp Inc. (NASDAQ: NTAP), Perry Ellis International, Inc. (NASDAQ: PERY), Progressive (NYSE: PGR) and Rambus Inc. (NASDAQ: RMBS) (NASDAQ: LEAP) were downgraded by analysts.

Marvell Technology Group (MRVL) was downgraded by JMP Securities from a “Market Perform” rating to an “Underperform” rating. They have a price target of $12.50 on the company.

Norfolk Southern Corp. (NSC) was downgraded by Sanford C. Bernstein from a “Market Perform” rating to an “Underperform” rating.

NetApp Inc. (NTAP) was downgraded by Collins Stewart from a “Buy” rating to a “Neutral” rating. They have a price target of $40.00 on the company, down from $52.00.

Perry Ellis International, Inc. (PERY) was downgraded by Deutsche Bank (NYSE:DB) from a “Buy” rating to a “Hold” rating. They have a price target of $29.00 on the company.

Progressive (PGR) was downgraded by Deutsche Bank to a “Hold” rating. They have a price target of $19.00 on the company.

Rambus Inc. (RMBS) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating. They have a price target of $11.50 on the company.

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