UBS has downgraded HSBC from 'buy' to 'neutral' after Monday's disappointing 2014 results, saying that revenue momentum at the bank lost steam in the fourth quarter.It also said HSBC's capital position disappointed and foresees "at least another two years of de-leveraging ahead". The broker lowered its target price for the shares from 730p to 590p.GKN's results were in line with market expectations on Tuesday, but Numis Securities has decided to cut their recommendation on the engineering stock from 'add' to 'hold' after a strong run."We appreciate the market's addiction to quantitative easing and GKN automotive should be an early beneficiary, however, we see a forward price-to-earnings ratio of c15x as around fair value and hence move our recommendation to a 'hold'."Housebuilder Persimmon beat profit forecasts with tis 2014 results, but analyst Robin Hardy from Shore Capital has stuck with his 'hold' rating on the stock, saying he doesn't seem any upside to the shares.ShoreCap has lifted its fair value estimate for Persimmon from 1533p to 1585p. "However, with the shares now standing at 1,710p we cannot see grounds to change from our current 'hold' recommendation, despite our continued expectation of a sector-wide positive revision of our valuation basis in the near future," Hardy said.