UPDATE: SunTrust Robinson Humphrey Downgrades LeapFrog Enterprises to Neutral, Lowers PT on Bleak Holiday Season Outlook

In a report published Tuesday, SunTrust Robinson Humphrey analyst Michael A. Swartz downgraded the rating on LeapFrog Enterprises LF from Buy to Neutral, and lowered the price target from $14.00 to $9.00. In the report, SunTrust Robinson Humphrey noted, “We are lowering our rating from Buy to Neutral following an OK 3Q, but decidedly bleak outlook for the 2013 holiday season. While understanding shares remain attractively valued, our comfort level around 2013/2014 earnings power has been shaken. Price target now $9.” LeapFrog Enterprises closed on Monday at $8.67.