Cowen Downgrades Roche (RHHBY) to Market Perform

Cowen downgraded Roche (: RHHBY) from Outperform to Market Perform with a price target of $35.00 (from $42.00), saying risk/reward is now balanced.

Analyst Steve Scala commented, "Cowen’s long-standing positive view of Roche was largely predicated on the ability of the company to deliver pipeline breakthroughs, and there is no reason to think that this will not continue in the future. However, there are risks on the horizon, balancing opportunities, prompting us to move to a Market Perform rating on the stock."

For an analyst ratings summary and ratings history on Roche click here. For more ratings news on Roche click here.

Shares of Roche closed at $33.95 yesterday.

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