JMP Securities also downgraded Cephalon (CEPH) to Market Perform from Outperform. The firm cited the acquisition proposal by Valeant (VRX), which the firm views as attractive and thinks shareholders will ultimately accept an offer
Meanwhile, Citigroup downgraded Gannett (GCI) to Hold from Buy.
JMP Securities has reportedly downgraded Rural/Metro (RURL) to Market Perform from Outperform. The firm cited the company's acquisition by Warburg Pincus as its reason. Shares closed at $17.04.