UPDATE: Citigroup Downgrades Iconix Brand Group to Neutral on Valuation, Acquisitions
Citigroup downgraded Iconix Brand Group (NASDAQ: ICON ) from Buy to Neutral and lowered the price target from $28.00 to $25.00. Citigroup commented, "We are downgrading ICON to Neutral based on valuation and lack of near term catalysts. ICON is up 28% since November 2012 and up about 50%
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