Alliance Data Systems (ADS -2.5%) trades lower after being downgraded to Neutral at Piper...

|About: Alliance Data Systems Corpo... (ADS)|By:, SA News Editor

Alliance Data Systems (ADS -2.5%) trades lower after being downgraded to Neutral at Piper Jaffray following its assumtion of coverage on the stock. Piper cites valuation for the Neutral rating, saying the company's fundamentals are solid, but the stock is overvalued at present levels after gaining nearly 58% over the past year.