UPDATE: Benchmark Company Downgrades R.R. Donnelley & Sons on Limited Near-Term Upside

In a report published Wednesday, Benchmark Company analyst Edward J. Atorino downgraded R.R. Donnelley & Sons RRD from Buy to Hold, but raised the price target from $15.00 to $20.00.

In the report, Benchmark Company noted, “Shares of R.R. Donnelley (RRD) have risen about 30% over the past month and 15% following the release of better than expected 2Q13 EPS yesterday. We maintain a positive long-term view of the Company but feel the stock is fairly valued, with limited near-term upside, as we expect little to no growth through 2014. We are raising our price target from $15 to $20, but lowering our rating from Buy to Hold.”

R.R. Donnelley & Sons closed on Tuesday at $18.93.