Benzinga's Top Downgrades

Analysts at Keefe Bruyette & Woods downgraded KeyCorp (NYSE: KEY) from Market Perform to Underperform. The price target for KeyCorp is set to $14. KeyCorp's shares closed at $14.65 yesterday.

Analysts at Barclays downgraded Allot Communications Ltd (NASDAQ: ALLT) from Equal-weight to Underweight. The price target for Allot Communications has been lowered from $11.00 to $9.00. Allot Communications' shares closed at $8.02 yesterday.

Analysts at Credit Suisse downgraded Borderfree Inc (NASDAQ: BRDR) from Outperform to Neutral. The price target for Borderfree has been raised from $13.00 to $14.00. Borderfree shares closed at $6.79 yesterday.

Analysts at William Blair downgraded Builders FirstSource, Inc. (NASDAQ: BLDR) from Outperform to Market Perform. Builders FirstSource shares closed at $12.52 yesterday.

KeyBanc downgraded Norcraft Companies Inc (NYSE: NCFT) from Overweight to Sector Weight and removed the price target of $23.00. Norcraft Companies' shares closed at $25.52 yesterday.

FBR Capital downgraded Nationstar Mortgage Holdings Inc (NYSE: NSM) from Market Perform to Underperform. The price target for Nationstar Mortgage Holdings has been lowered from $25.00 to $15.00. Nationstar Mortgage Holdings' shares closed at $19.51 yesterday.

Raymond James downgraded Shenandoah Telecommunications Company (NASDAQ: SHEN) from Outperform to Market Perform and removed the price target of $33.00. Shenandoah Telecommunications' shares closed at $33.87 yesterday.

Baird downgraded Otter Tail Corporation (NASDAQ: OTTR) from Outperform to Neutral. The price target for Otter Tail has been lowered from $35.00 to $31.00. Otter Tail shares closed at $28.26 yesterday.

Stifel Nicolaus downgraded Zulily Inc (NASDAQ: ZU) from Buy to Hold and removed the price target of $24.00. Zulily shares closed at $11.82yesterday.

Goldman Sachs downgraded First Niagara Financial Group Inc. (NASDAQ: FNFG) from Neutral to Sell. The price target for First Niagara Financial has been lowered from $8.75 to $8.50. First Niagara Financial shares closed at $8.93 yesterday.