UPDATE: Stifel Nicolaus Downgrades Shaw Communications to Hold on Valuation

Stifel Nicolaus downgraded Shaw Communications Inc. (NYSE: SJR ) from Buy to Hold and removes the price target of $22.00. Stifel Nicolaus said, "Shaw released essentially in-line 1Q results (Nov quarter-end), with consolidated revenue of $1,314mn, just ahead of our $1,288mn estimate. … We expect Shaw to continue to aggressively