08-Feb-2011 4:30 PM
Citigroup downgrades Embraer shares to 'sell'
Analysis
Citigroup downgraded Embraer shares from "hold" to "sell" on Friday, citing its valuation, but raised the price target for shares from USD31 to USD37. On 28-Jan-2011, Morgan Stanley upgraded Embraer from "equal weight" to "overweight".
Summary
- Citigroup downgraded Embraer shares from "hold" to "sell" citing valuation concerns.
- Citigroup raised the price target for Embraer shares from USD31 to USD37.
- Morgan Stanley upgraded Embraer from "equal weight" to "overweight" on 28-Jan-2011.
- Embraer's shares gained 3.6% following the downgrade by Citigroup.
- Boeing's shares were slightly higher, and Airbus' parent company EADS gained 2.5%.
- The article mentions selected original equipment manufacturers' share price movements on 07-Feb-2011.
