- Deutsche Bank is out today with two downgrades to Sell: Freeport McMoRan (FCX -2.3%) is cut to Sell from Hold with an unchanged $13 price target, as the firm sees an unfavorable risk/reward profile due to valuation and continued uncertainty at the Grasberg mine in Indonesia.
- Deutsche Bank also downgrades Dynegy (DYN -3.3%) to Sell with a price target cut to $7 from $10, as the firm believes the stock's recent rally prices in expectations for an acquisition and leaves little room for disappointment.