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Equities Research Analysts’ downgrades for Friday, August 29th:

Canadian Western Bank (TSE:CWB) was downgraded by analysts at GMP Securities from a buy rating to a hold rating.

Energy XXI (Bermuda) Limited (NASDAQ:EXXI) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. Zacks currently has $15.50 target price on the stock.

FARO Technologies (NASDAQ:FARO) was downgraded by analysts at Zacks from an outperform rating to a neutral rating. Zacks currently has $62.00 target price on the stock.

Rocket Fuel (NASDAQ:FUEL) was downgraded by analysts at Citigroup Inc. from a buy rating to a neutral rating.

StealthGas (NASDAQ:GASS) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. The firm currently has $9.20 price target on the stock.

KKR & Co. L.P. (NYSE:KKR) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. They currently have $22.20 price target on the stock.

Mattel (NYSE:MAT) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. Zacks currently has $32.00 price target on the stock. Zacks’ analyst wrote, “We downgrade our recommendation on Mattel to Underperform from Neutral due to dismal second-quarter 2014 results. Adjusted earnings of $0.03 per share missed the Zacks Consensus Estimate of $0.19 per share by 84.2% and also declined 85.7% year over year. The significant downside was due to weak sales and lower margins. Net sales of $1.06 billion declined 9% year over year and also missed the consensus mark by 8.8%, reflecting poor performance in the domestic as well as international markets. Sales of Barbie and Fisher-Price dropped significantly during the quarter. In fact, both these flagship brands have been posting soft sales since 2013 due to a weak consumer spending environment that has compelled customers to reduce their non-essential purchases. Moreover, the company intends to increase marketing and advertising spending in the second half of the year, which will further dent profitability.”

MDC Partners (NASDAQ:MDCA) was downgraded by analysts at Zacks from an outperform rating to a neutral rating. Zacks currently has $23.90 price target on the stock.

Manitok Energy (NASDAQ:MKRYF) was downgraded by analysts at Dundee Securities from a buy rating to a neutral rating.

Osiris Therapeutics (NASDAQ:OSIR) was downgraded by analysts at Zacks from an outperform rating to a neutral rating. Zacks currently has $15.00 price target on the stock. Zacks’ analyst wrote, “Osiris reported a loss of $0.04 per share in the second quarter of 2014, a penny narrower than the year-ago loss of $0.05. The Zacks Consensus Estimate was earnings of $0.30 per share. Revenues came in at $13.3 million, above the Zacks Consensus Estimate of $11 million and up 151.2% y-o-y. Osiris’ Biosurgery segment has been gaining traction over the past few quarters. The company’s increased sales effort should start paying off from the second half of the year. We are also positive on the company’s sale of its ceMSC business which has not only brought in cash for Osiris in the form of an upfront payment but will also bring in royalties. While encouraged by the company’s progress with its Biosurgery business, we remain concerned about the dependence on a single segment for growth. We are moving back to a Neutral recommendation.”

RenaissanceRe Holdings (NYSE:RNR) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. They currently have $93.00 price target on the stock. Zacks’ analyst wrote, “We are downgrading our recommendation on RenaissanceRe to Underperform based on downward estimate revisions. RenaissanceRe’s second-quarter earnings fell short of the Zacks Consensus Estimate but improved year over year on proper risk-assessment. Going ahead, the adverse effects of weak investment portfolio and catastrophe exposures are likely to weigh on positives like risk-assessment and disciplined underwriting. Also accelerated share buybacks and annual dividend hikes are expected to boost investors’ return. Moreover, headwinds related to volatile investment income, intense competition and risks from catastrophe businesses raise concerns. Nevertheless, the restructuring and strategic divestitures and strong ratings raise creditworthiness and boost investor confidence. However a soft financial position and a decline in gross premiums written in the quarter raises caution.”

Market Vector Russia ETF Trust (NYSE:RSX) was downgraded by analysts at Morgan Stanley to an underweight rating.

Extended Stay America (NASDAQ:STAY) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. The firm currently has $22.50 target price on the stock.

Solar Senior Capital (NASDAQ:SUNS) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. They currently have $14.90 target price on the stock.

Smith & Wesson Holding Corp (NASDAQ:SWHC) was downgraded by analysts at Zacks from a neutral rating to an underperform rating. Zacks currently has $10.60 target price on the stock.

Teekay Tankers (NYSE:TNK) was downgraded by analysts at Zacks from an outperform rating to a neutral rating. They currently have $4.70 price target on the stock.

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