UPDATE: Stifel Nicolaus Downgrades Douglas Emmett to Hold on Valuation, Conditions

Stifel Nicolaus reduced its rating on Douglas Emmett (NYSE: DEI ) from Buy to Hold and removed its previous $25 price target. Stifel Nicolaus noted, "We are downgrading from Buy to Hold based on valuation (DEI is up 26.9% YTD vs the RMZ up 11.9%), and on our belief