Upgrades & Downgrades

Format: 2015-07-30
Format: 04:13

Change in Ratings

Bullish
American International rated new Outperform at FBR
Jan 11, 2013 | 6:46 AM EST

AIG was initiated with an Outperform rating, FBR Capital Markets said. $44 price target. Company is attractively valued and will likely continue to deploy capital. 

 

Update
AOL rated new Hold at Cantor
Jan 11, 2013 | 6:47 AM EST

Coverage of AOL was started with a Hold rating, Cantor Fitzgerald said. $32 price target. Operating turnaround remains a work in progress. 

 

Bullish
Brookdale Senior Living upgraded at BofA
Jan 11, 2013 | 8:08 AM EST

BKD was upgraded to Buy from Neutral, Bank of America Merrill Lynch said. $31 price target. Better fundamental outlook. 

Cardtronics upgraded at JP Morgan
Jan 11, 2013 | 8:16 AM EST

CATM was upgraded to Overweight from Neutral, JP Morgan said. $31 price target. Reverse interchange concerns overdone. 

Cathay General downgraded at DA Davidson
Jan 11, 2013 | 8:27 AM EST

CATY was downgraded from Buy to Neutral, DA Davidson said. Valuation call, as the stock is up 30% over the past year. 

Bearish
Cummins downgraded at Jefferies
Jan 11, 2013 | 8:08 AM EST

Shares of CMI downgraded to Hold from Buy, Jefferies said. Valuation call.

Bullish
Community Health Systems upgraded at BofA
Jan 11, 2013 | 8:15 AM EST

CYH was upgraded to Buy from Neutral, Bank of America Merrill Lynch said. $45 price target. Reform positives clear and story is de risked. 

Bullish
Forest Laboratories upgraded at Goldman
Jan 11, 2013 | 7:22 AM EST

FRX was upgraded from Sell to Neutral, Goldman Sachs said. Company can improve its industry-low margins over time. $40 price target. 

Bearish
General Mills downgraded at Goldman
Jan 11, 2013 | 7:26 AM EST

GIS was downgraded from Neutral to Sell, Goldman Sachs said. Company will likely lose market share in cereal and fall short of consensus expectations. $40 price target. 

Hubbell upgraded at JP Morgan
Jan 11, 2013 | 8:12 AM EST

HUBB was upgraded to Overweight from Neutral, JP Morgan said. $93 price target. Risk/reward now attractive. 

Bearish
Interpublic downgraded at Morgan Stanley
Jan 11, 2013 | 7:42 AM EST

IPG was downgraded from Overweight to Equal-weight, Morgan Stanley said. $12 price target. Upside will likely be capped by a slower macro environment. 

Bearish
JC Penney downgraded at UBS
Jan 11, 2013 | 7:55 AM EST

JCP was downgraded to Sell from Neutral, UBS said. $13 price target. SSS and gross margins are major earnings risks in 4Q. 

Bearish
3M downgraded at JP Morgan
Jan 11, 2013 | 7:20 AM EST

MMM was downgraded from Neutral to Underweight, JP Morgan said. $97 price target. Company lacks near-term catalysts. 

Bullish
Meritage Homes upgraded at JP Morgan
Jan 11, 2013 | 8:13 AM EST

MTH was upgraded from Neutral to Overweight, JP Morgan said. Company has lagged its peers and can deliver above-average order growth in 2013.

Maxim Integrated upgraded at JP Morgan
Jan 11, 2013 | 8:09 AM EST

MXIM was upgraded from Neutral to Overweight, JP Morgan said. Company is leveraged to Samsung, which should continue to gain market share. 

Bullish
Oasis Petroleum upgraded at Wells Fargo
Jan 11, 2013 | 8:10 AM EST

OAS was upgraded to Outperform from Market Perform, Wells Fargo said. $40 to $45 valuation range. Strong operational momentum. 

Bearish
Principal Financial downgraded at UBS
Jan 11, 2013 | 7:58 AM EST

PFG was downgraded to Sell from Neutral, UBS said. $27 price target. Accumulation business to remain under pressure. 

Bullish
Philip Morris upgraded at Goldman
Jan 11, 2013 | 7:29 AM EST

PM was upgraded from Neutral to Buy, Goldman Sachs said. $103 price target. Company was also placed on the Conviction Buy list. Company offers growth and yield at an attractive valuation.

Bearish
Pepco downgraded at Credit Suisse
Jan 11, 2013 | 8:25 AM EST

POM was downgraded from Outperform to Neutral, Credit Suisse said. $20.50 price target. Company is facing multiple growth headwinds.

Perrigo downgraded at Goldman
Jan 11, 2013 | 7:34 AM EST

PRGO was downgraded from Neutral to Sell, Goldman Sachs said. $110 price target. Growth could slow in the next few quarters. 

Research in Motion downgraded at BMO
Jan 11, 2013 | 8:08 AM EST

RIMM was downgraded to Underperform, BMO Capital said. $9 price target. New BB10 phones will likely not stem market share losses. 

Bearish
JM Smucker downgraded at Goldman
Jan 11, 2013 | 7:41 AM EST

SJM was downgraded from Buy to Neutral, Goldman Sachs said. Valuation call, based on a $93 price target. 

SodaStream International rated new Buy at Citigroup
Jan 11, 2013 | 8:02 AM EST

SODA was initiated with a Buy rating, Citigroup said. $60 price target. Skeptics abound but momentum is hard to dispute. 

Bearish
Standard Pacific downgraded at JP Morgan
Jan 11, 2013 | 8:11 AM EST

SPF was downgraded from Neutral to Underweight, JP Morgan said. Valuation call, as the stock trades at a 35% premium to its peers. 

Bullish
Molson Coors rated new Buy at Nomura
Jan 11, 2013 | 8:29 AM EST

TAP was initiated with a Buy rating, Nomura said. $54 price target. Investor sentiment is too low and the company can continue to cut costs. 

Bullish
Tenet Healthcare upgraded at BofA/Merrill
Jan 11, 2013 | 7:44 AM EST

THC was upgraded from Neutral to Buy, Bank of America/Merrill Lynch said. $44 price target. Company is improving margins and leveraging its balance sheet. 

Targa Resources downgraded at BofA
Jan 11, 2013 | 8:07 AM EST

TRGP was downgraded to Neutral from Buy, Bank of America Merrill Lynch said. $60 price target. Valuation call.

Bearish
Watson Pharmaceuticals downgraded at Goldman
Jan 11, 2013 | 7:23 AM EST

WPI was downgraded from Buy to Neutral, Goldman Sachs said. $96 price target. Valuation call, as the stock gained 43% in 2012. 

Bearish
Watsco downgraded at JP Morgan
Jan 11, 2013 | 7:45 AM EST

WSO was downgraded to Underweight, JP Morgan said. Valuation call, based on a $72 price target. 

Stock Comments / EPS Changes

AGCO target raised at Jefferies
Jan 11, 2013 | 8:10 AM EST

Shares of AGCO now seen reaching $58, Jefferies said. Long- term opportunity remains. Buy rating.

Bullish
American Express numbers increased at Credit Suisse
Jan 11, 2013 | 8:18 AM EST

AXP estimates were raised through 2015, Credit Suisse said. Company is cutting costs. Underperform rating and new $59 price target.

Bullish
Chipotle Mexican Grill numbers raised at UBS
Jan 11, 2013 | 7:54 AM EST

Shares of CMG now seen reaching $310, UBS said. Estimates also increased on expectations of a strong quarter. Neutral rating. 

Bearish
Campbell Soup cut from Conviction Buy List at Goldman
Jan 11, 2013 | 7:37 AM EST

CPB was removed from the Conviction Buy list, according to Goldman Sachs. Turnaround is progressing slower than expected. $40 price target. 

Deckers estimates, target cut at Piper
Jan 11, 2013 | 8:24 AM EST

Shares of DECK now seen reaching $34, according to Piper Jaffray. Estimates also reduced, as the company is marking down prices in the UK. Neutral rating. 

Bullish
Ford Motor added to Conviction Buy List at Goldman
Jan 11, 2013 | 8:41 AM EST

F was placed on the Conviction Buy list, according to Goldman Sachs. $17 price target. Company has the best EBITDA growth prospects in the industry. 

Bullish
Hertz added to Priority Stock List at Wells
Jan 11, 2013 | 8:22 AM EST

HTZ was added to the Priority Stock list, Wells Fargo said. Company is attractively valued and can deliver solid earnings growth over the next couple of years. 

Bullish
Nokia estimates, target raised at BMO
Jan 11, 2013 | 8:15 AM EST

Shares of NOK now seen reaching $3, according to BMO Capital. Estimates also increased, given the company's new guidance. 

Bullish
Praxair target raised at Jefferies
Jan 11, 2013 | 8:12 AM EST

Shares of PX now seen reaching $120, Jefferies said. Strong bidding activity. Buy rating.

Economics

Update
Import Prices
Jan 11, 2013 | 6:13 AM EST

8:30am: Import price index, Dec., M/m est. 0.1% (prior

    -0.9%)

Update
Trade Balance
Jan 11, 2013 | 6:14 AM EST

8:30am: Trade balance, Nov., est. -$41.3b (prior -$42.2b)

Update
Monthly Budget
Jan 11, 2013 | 6:14 AM EST

1pm: Monthly budget statement, Dec., est. -$1b (prior -$86b)

Columnist Conversations

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