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Analysts at RBC Capital downgraded CIENA (NASDAQ: CIEN) from “outperform” to “sector perform.” The target price for CIENA is set to $28. CIENA's shares closed at $22.42 yesterday.

Analysts at Societe Generale downgraded Citigroup (NYSE: C) from “buy” to “hold.” Citigroup's shares closed at $47.45 yesterday.

Deutsche Bank downgraded Pacific Gas & Electric Co (NYSE: PCG) from “buy” to “hold.” The target price for Pacific Gas & Electric is set to $45. Pacific Gas & Electric's shares closed at $43.64 yesterday.

Analysts at MKM Partners downgraded Ambac Financial (NYSE: AMBC) from “neutral” to “sell.” The target price for Ambac Financial is set to $21. Ambac Financial's shares closed at $31.02 yesterday.

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