Upgrades & Downgrades

Format: 2016-09-28
Format: 23:51

Change in Ratings

Bullish
Dillard's upgraded at Credit Suisse
Sep 28, 2016 | 7:16 AM EDT
DDS was upgraded to Outperform, Credit Suisse said. $70 price target. Company can continue to reduce debt and repurchase stock.
Alphabet downgraded at Wedbush
Sep 28, 2016 | 6:49 AM EDT
GOOGL was downgraded from Neutral to Underperform, Wedbush said. $700 price target. Recent changes to mobile search has seen ad growth decelerate sharply.
Huntington Bancshares upgraded at Deutsche
Sep 28, 2016 | 7:02 AM EDT
HBAN was upgraded to Buy, Deutsche Bank said. Valuation call, as the stock trades at a 10% discount to its peers.
Bearish
Macy's downgraded at Credit Suisse
Sep 28, 2016 | 7:15 AM EDT
Rating on M was cut to Neutral, Credit Suisse said. $40 price target. Management needs to prove to investors that it can execute in a challenging retail environment.
Signature Bank upgraded at Barclays
Sep 28, 2016 | 7:07 AM EDT
SBNY was upgraded to Overweight, Barclays said. $139 price target. Commercial real estate risk is exaggerated and the company can deliver above-average growth.
Bearish
Select Medical downgraded at JMP
Sep 28, 2016 | 7:04 AM EDT
SEM was downgraded from Market Perform to Underperform, JMP Securities said. $10 price target. Estimates also cut, given lower expected earnings in the long-term care hospital business.
Shopify downgraded at Morgan Stanley
Sep 28, 2016 | 7:22 AM EDT
SHOP was downgraded from Overweight to Equal-weight, Morgan Stanley said. $47 price target. Valuation call, as the stock is up 70% year-to-date.
Twitter downgraded at Loop
Sep 28, 2016 | 7:34 AM EDT
TWTR was downgraded from Hold to Sell, Loop Capital said. $18 price target. Meaningful upside is not likely, even in a takeover situation.
Workday upgraded at Wedbush
Sep 28, 2016 | 6:51 AM EDT
WDAY was upgraded from Underperform to Neutral, Wedbush said. $82 price target. Investor sentiment is improving and sales should recover in the second half of the year.

Stock Comments / EPS Changes

Bearish
Nike estimates, target cut at Barclays
Sep 28, 2016 | 7:08 AM EDT
Shares of NKE now seen reaching $65, according to Barclays. Estimates also reduced, as the company is realizing lower margins. Overweight rating.
Bearish
Constellation Brands cut from Focus Picks List at RBC
Sep 28, 2016 | 7:49 AM EDT
STZ was removed from the Focus Picks list, according to RBC Capital. $181 price target. Valuation call, as the stock has outperformed by 10 percentage points year-to-date.

Economics

Update
Durable Goods Orders
Sep 28, 2016 | 7:13 AM EDT
8:30am: Durable Goods Orders, Aug. P, est. -1.5% (prior 4.4%)

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