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Lazard Downgrades Several Retailers (SKS, AEO, ELY, JNY)
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Posted on 11/04/09 at 9:01am by Benzinga Staff
Lazard downgrades several retailers this morning. Lazard downgraded Saks (NYSE: SKS), American Eagle (NYSE: AEO), Callaway Golf (NYSE: ELY), Jones Apparel (NYSE: JNY), True Religion (NYSE: TRLG), Warnaco (NYSE: WRC) and Quiksilver (NYSE: ZQK).
Lazard downgraded all of these including SKS, AEO, ELY, JNY, TRLG, WRC and ZQK from Buy to Hold.
Lazard's sector downgrade will put pressure on the SPDR S&P Retail ETF (NYSE: XRT).
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