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Benzinga's Top Downgrades With Color for May 23, 2012

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Listed below are today's Top pre-market Downgrades at Benzinga:

Canaccord Genuity Downgrades Northern Dynasty Minerals (NYSE: NAK) to Hold:

Canaccord Genuity notes, "We have adjusted our risk profile for NDM based on market conditions and project permitting challenges. We are decreasing our 12-month target price to C$7.00 per share (from C$11.45), and moving our recommendation to a market neutral, HOLD rating (was Speculative Buy)."

Deutsche Bank Downgrades Patriot Coal (NYSE: PCX) to Hold:

Deutsche Bank comments, "We downgrade our rating on Patriot Coal from Buy to Hold on the back of the volatility of the stock due to timing and uncertainty of financing arrangements and outcome of a recent customer default, and accordingly change our Target Price from $6.50 to N/A. Its operations in the Central Appalachia face issues like structural declines and regulatory challenges. Should market demand and its cash flow improve, PCX could invest in organic projects."

All of Benzinga's Analyst Ratings news can be viewed here.

Latest Ratings for NAK

DateFirmActionFromTo
Aug 2019MaintainsBuy
Jan 2018DowngradesSpeculative BuyHold
Dec 2017UpgradesMarket PerformOutperform

View More Analyst Ratings for NAK
View the Latest Analyst Ratings

Posted-In: Canaccord Deutsche BankAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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