Stock Newsletter on Major Stock Downgrades (QCOM, CRH, VALE, FLEX)

QUALCOMM, Inc. (NASDAQ:QCOM) shares rose 0.23% to $39.69 after it was downgraded at Standpoint Research to Hold from Buy.

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The firm commented, "QCOM has jumped $8 (25%) since July 1 and has out-performed the S&P-500 by > 2000 bps since 7/1. The shares are now trading at > 17X trailing earnings and 15.7X the EPS consensus for 2011. Given the recent move on an absolute and relative (to the S&P) basis, we are not comfortable leaving our highest rating attached to this name in the near-term.”

“QCOM has a market cap of more than $60 bln – 17X trailing twelve months earnings is fair value for this name given the current environment. The recent good news is priced in at this point. After watching QCOM break $37.90 to the downside yesterday, we are happy to exit here at $39.90."

CRH PLC (ADR) (NYSE:CRH) shares also downgraded by Exane BNP Paribas to “Neutral” from Outperform. Shares of CRH are down 1.66% at $16.53.

CRH plc (CRH) is a diversified building material company, which manufactures and distributes building material products from the fundamentals of heavy materials and elements to construct the frame, through exterior products that complete the building envelope, to distribution channels, which service construction fit-out and renewal.

Vale (ADR) (NYSE:VALE) shares are down over 1.30% to $27.99 after analysts at RBC Capital rerated the stock to Sector Perform from Outperform  earlier and set a price target of $32.

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Vale S.A. is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets. It also produces manganese ore, ferroalloys, bauxite, alumina and kaolin. It also produce aluminum, copper, coal, potash, cobalt, platinum group metals (PGMs) and other products.

Flextronics International Ltd. (NASDAQ:FLEX) shares are down over 0.3% to $5.16 despite analysts at S&P Equity Research rerated the stock to Buy from Strong Buy earlier.

Flextronics International Ltd. (Flextronics) is a provider of vertically-integrated advanced design and electronics manufacturing services (EMS) to original equipment manufacturers (OEMs).

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