UPDATE: Stifel Downgrades Beam, Inc.; Removes Price Target

In a note released Tuesday, Stifel downgraded Beam, Inc.

from Buy to Hold and removed the price target. Commenting on the downgraded, Stifel analyst Mark Swartzberg noted, "We take our rating to Hold from Buy as we no longer see merit to watching for a competing bid. BEAM shareholders recently approved Suntory's all-cash $83.50 per share offer, with a closing planned the week of April 28th."