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Equities Research Analysts’ downgrades for Tuesday, July 1st:

BNP Paribas SA (NASDAQ:BNPQY) was downgraded by analysts at Societe Generale from a buy rating to a hold rating.

Banco Santander Brasil (NASDAQ:BSBR) was downgraded by analysts at Credit Suisse from an outperform rating to a neutral rating.

Deckers Outdoor Corp (NASDAQ:DECK) was downgraded by analysts at Macquarie from an outperform rating to a neutral rating.

Heritage-Crystal Clean (NASDAQ:HCCI) was downgraded by analysts at Robert W. Baird from an outperform rating to a neutral rating. Robert W. Baird currently has $19.00 price target on the stock.

MannKind (NASDAQ:MNKD) was downgraded by analysts at MLV & Co
from a buy rating to a hold rating. The firm currently has $11.00 target price on the stock, up from their previous target price of $10.00.

MannKind (NASDAQ:MNKD) was downgraded by analysts at ISI Group from a buy rating to a hold rating. ISI Group currently has $11.00 target price on the stock, up from their previous target price of $10.00. The analysts wrote, “Capping a long journey, FDA has now approved Afrezza, MNKD’s novel inhaled insulin for diabetes. Given the very positive 4/1 AdCom vote in favor of Afrezza, the approval itself doesn’t come as a surprise, but the timing does (the PDUFA was 7/15). As a result, we now raise our PT to $11 (on a lowered DCF discount rate on reduced risk), but given current valuation, we now also lower our rating to Hold on what we see as a fully valued stock. “Our next immediate focus is the commercial partnership for Afrezza. Here, 1) which pharma MNKD secures as a partner and 2) partnership deal terms will be major factors in determining how the market (and stock) reacts. We expect partnership news in the next 2-3 months (but are hopeful it could come sooner), and note that we’ll likely use that event as an opp’y to re-evaluate our views on the stock and Afrezza’s prospects.”

Midstates Petroleum Company (NYSE:MPO) was downgraded by analysts at Northland Securities from an outperform rating to a market perform rating. Northland Securities currently has $7.50 target price on the stock.

Sunstone Hotel Investors (NYSE:SHO) was downgraded by analysts at Wells Fargo & Co. from an outperform rating to a market perform rating.

Symantec (NASDAQ:SYMC) was downgraded by analysts at BMO Capital Markets from an outperform rating to a market perform rating. The firm currently has $24.00 target price on the stock, up from their previous target price of $22.00.

Triumph Group (NYSE:TGI) was downgraded by analysts at RBC Capital from a sector perform rating to an underperform rating. They currently have $67.00 price target on the stock, down from their previous price target of $73.00.

Time Warner (NYSE:TWX) was downgraded by analysts at Goldman Sachs from a buy rating to a neutral rating. The firm currently has $74.00 price target on the stock, up from their previous price target of $73.82.

Urban Outfitters (NASDAQ:URBN) was downgraded by analysts at Wedbush from an outperform rating to a neutral rating. Wedbush currently has $37.00 target price on the stock, down from their previous target price of $46.00.

Xerox Corp (NYSE:XRX) was downgraded by analysts at Citigroup Inc. from a buy rating to a neutral rating.

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