Pros Holdings downgraded to Neutral from Outperform at Baird

Baird analyst Rob Oliver downgraded Pros Holdings (PRO) to Neutral from Outperform with a price target of $18, down from $27. The firm says that given recent internal changes at the company, it is “increasingly concerned” about Pros’ ability to execute to its long-term targets. The shares are inexpensive, and while a downgrade near recent lows “is not ideal,” it will be some time before recent changes take hold and before the company can restore investor confidence in its targets, the analyst tells investors in a research note.