UPDATE: Wedbush Downgrades Heckmann Corporation to Underperform on End Market Weakness

Wedbush downgraded Heckmann Corporation

from Neutral to Underperform and lowered the price target from $3.00 to $2.50. Wedbush noted, "Based on recent channel checks and publicly available data, we believe the earnings outlook is weaker than anticipated. Valuations for the peer group reflect this unfavorable backdrop; and we believe HEK shares are likely to follow suit as earnings and valuation expectations are reduced." Heckmann Corporation closed at $4.25 on Friday.