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Bernstein Downgrades Staples (SPLS), Office Depot (ODP) to Market Perform

July 11, 2012 7:57 AM EDT
Get Alerts SPLS Hot Sheet
Price: $10.25 --0%

Rating Summary:
    3 Buy, 15 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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An analyst at Bernstein downgraded shares of Staples (Nasdaq: SPLS) and Office Depot (NYSE: ODP) from Outperform to Market Perform Wednesday morning. The price targets were reduced from $18 and $6 to $14 and $2.50, respectively.

Staples shares are down more than 3 percent to $12.57 ahead of Wednesday's opening bell; shares of Office Depot have not yet traded, but closed Tuesday's session at $2.16.

Click here to see all the analyst comments on shares of Staples. Click here for our ratings page on Office Depot.


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