Sykes Enterprises (SYKE -3.9%) is reduced to Neutral from Outperform at Robert W. Baird, which...

|About: Sykes Enterprises, Incorpor... (SYKE)|By:, SA News Editor

Sykes Enterprises (SYKE -3.9%) is reduced to Neutral from Outperform at Robert W. Baird, which sees "limited near-term upside" as the stock now trades near its four-year average NTM P/E multiple. The firm believes management could be conservative with initial 2012 guidance, particularly given recently announced restructuring efforts.