Even though the markets are seeing a lift higher today, analysts had reason to be skeptical about the valuations of the following companies share prices and the near-term prospects at the beginning of 2012:

Downgrades

Google (NASDAQ:GOOG): Google’s rating has been downgraded from Buy to Hold, with a price target changed to $700, by the Benchmark Company. This is due to European regulators still holding off on a decision as to whether to file a formal antitrust complaint against Google thanks to its search procedures. The EU Competition Commission ”is to date not in a position to say whether its investigation will lead to issuing a statement of objections.”

Main Street Capital (NYSE:MAIN): Robert W. Baird downgraded its rating on this company from Outperform to Neutral and changed its price target to $21. The analyst cited valuation.

Choice Hotels (NYSE:CHH): Robert W. Baird lowered its rating of Choice Hotels to Underperform from Neutral, and adjusted its price target from $33 to $34, blaming valuation and a contracting development pipeline. The stock is 40 percent higher than its status in August, and Baird cites more value in other hotel brands boasting stronger growth outlooks.

UPS (NYSE:UPS): HSBC Securities downgraded its rating on this company from Overweight to Neutral and changed its price target from $80 to $75. This despite the company saying e-commerce grew 15% in November and December.

JB Hunt Transportation (NASDAQ:JBHT): RBC Capital Mkts downgraded its rating on this company from Outperform to Sector Perform and changed its price target to $45. The firm cited a lack of positive catalysts on the horizon.

C.H. Robinson (NASDAQ:CHRW): RBC Capital Mkts downgraded its rating on this company from Outperform to Sector Perform and changed its price target from $90 to $75. The company has limited opportunities for growth.

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