UPDATE: Stifel Nicolaus Downgrades SonoSite to Hold

Stifel Nicolaus lowers its rating on SonoSite

to Hold from Buy to reflect tendering of the shares. Stifel Nicolaus comments, "Fujifilm has announced the beginning of the company's tender offer for SonoSite. We are downgrading SONO shares to Hold. Our fair value is $54." SONO closed at $53.89 per share yesterday.