Notable Downgrades: Fleetmatics Group (FLTX), Melco Crown Entertainment (MPEL), Marvell Technology (MRVL, Ross Stores (ROST), BHP Billiton (BHP)

Analysts at Piper Jaffray downgraded Fleetmatics Group PLC (FLTX) from ‘Overweight‘ to ‘Neutral‘ in a research report issued to clients on Wednesday. On valuation measures, FleetMatics Group stock is trading at a forward P/E multiple of 26.17x, and at a multiple of 52.78x this year’s estimated earnings. The T-12-month revenue at FleetMatics Group PLC is […] View the full post at: Notable Downgrades: Fleetmatics Group (FLTX), Melco Crown Entertainment (MPEL), Marvell Technology (MRVL, Ross Stores (ROST), BHP Billiton (BHP) Related posts: Top Pre-Market Stock Upgrades/Downgrades April 21, 2010 Barclays Downgrades GE Unit Debt 4Kids Entertainment Puts Itself Up for Sale