Analysts are weighing in today on exchange operator NASDAQ OMX Group, Inc. (NDAQ - 21.44), online entertainment specialist Shanda Games Limited (GAME - 4.05), and commodity stock United States Steel Corporation (X - 17.89). Here's a quick roundup of today's bearish brokerage notes.

• NDAQ is still feeling the heat from its Facebook (FB) IPO fiasco, and KBW piled on today by trimming its price target to $29 from $30. However, the downwardly revised figure still represents a healthy premium of 35.3% to Monday's close at $21.44, and it's also just north of NDAQ's average 12-month price target of $28.40. The stock has shed 12.5% year-to-date, and NDAQ has been hammered lower by its 10-day and 20-day moving averages since the end of March -- suggesting additional target cuts could be on the horizon.
• On the heels of last night's first-quarter results, Lazard Capital lowered its rating on GAME to "neutral" from "buy." The stock is down 35.7% over the past 52 weeks, with long-term resistance in place from GAME's declining 10-month and 20-month moving averages. The U.S.-traded shares are up 1.2% ahead of the bell, though, putting GAME on track for another test of resistance at its 20-day trendline.
• Barclays dropped its price target on X to $22 from $32 and reiterated its "equal weight" rating, which happens to be a characteristically lukewarm note for the steel stock. X sports seven "hold" ratings from brokerage firms, compared to five "buys" and two "sells." On the other hand, the equity's average 12-month price target stands at $35 -- a rather ambitious premium of 95.6% to Monday's close at $17.89. X has plummeted 32.3% so far in 2012, and recently breached support at the round-number $20 level. In light of this dismal price action, the shares look vulnerable to more downgrades or target cuts going forward.