Upgrades & Downgrades

Format: 2015-09-02
Format: 13:25

Change in Ratings

Bearish
AFLAC downgraded at Sterne Agee
Jan 15, 2013 | 8:17 AM EST

AFL was downgraded to Neutral from Buy, Sterne Agee said. Trading near 52-week highs despite negative EPS revision pressure. 

Altera downgraded at Lazard
Jan 15, 2013 | 8:26 AM EST

ALTR was downgraded from Buy to Neutral, Lazard Capital Markets said. Company faces macro growth headwinds. 

TD Ameritrade downgraded at Sterne Agee
Jan 15, 2013 | 8:21 AM EST

AMTD was downgraded to Neutral, Sterne Agee said. $19 price target. Valuation call, as the stock is up 20% from its November lows. 

Bearish
American Express downgraded at JP Morgan
Jan 15, 2013 | 8:25 AM EST

AXP was downgraded from Neutral to Underweight, JP Morgan said. $60 price target. Company may struggle to regain its operating leverage. 

B/E Aerospace downgraded at Deutsche
Jan 15, 2013 | 7:51 AM EST

BEAV was downgraded from Buy to Hold, Deutsche Bank said. Valuation call, based on a $55 price target. 

Bullish
Boston Scientific upgraded at Credit Suisse
Jan 15, 2013 | 7:55 AM EST

BSX was upgraded from Neutral to Outperform, Credit Suisse said. $7.50 price target. Sales visibility is improving. 

Celgene upgraded at BofA/Merrill
Jan 15, 2013 | 7:49 AM EST

CELG was upgraded from Neutral to Buy, Bank of America/Merrill Lynch said. $115 price target. Company can deliver 25% compound annual earnings growth over the next five years. 

Bullish
Cliffs Natural upgraded at Deutsche
Jan 15, 2013 | 7:53 AM EST

CLF was upgraded from Hold to Buy, Deutsche Bank said. $48 price target. Sector is down, despite higher commodity prices. 

Bullish
Duke Energy upgraded at UBS
Jan 15, 2013 | 8:06 AM EST

DUK was upgraded to Buy from Neutral, UBS said. $70 price target. Attractive risk / reward profile. 

Bearish
Consolidated Edison downgraded at UBS
Jan 15, 2013 | 8:05 AM EST

ED was downgraded to Sell from Neutral, UBS said. $53 price target. NY politics leads to regulatory interference. 

Bullish
FMC Technologies upgraded at Morgan Stanley
Jan 15, 2013 | 7:20 AM EST

FTI was upgraded was upgraded to Overweight, Morgan Stanley said. $65 price target. Company is leveraged to better subsea processing and services demand. 

Green Mountain upgraded at Argus
Jan 15, 2013 | 8:20 AM EST

GMCR was upgraded from Hold to Buy, Argus said. $50 price target. Company has strong brands and can benefit from higher coffee prices. 

 

Bullish
Global Payments rated new Buy at UBS
Jan 15, 2013 | 8:02 AM EST

GPN was initiated with a Buy rating, UBS said. $57 price target. Unique asset with difficult to replicate global footprint. 

Bullish
Hyatt Hotels rated new Outperform at BMO
Jan 15, 2013 | 8:20 AM EST

H was initiated with an Outperform rating, BMO Capital Markets said. $45 price target. Strong growth potential. 

Bearish
US Airways downgraded at JP Morgan
Jan 15, 2013 | 8:29 AM EST

LCC was downgraded to Neutral, JP Morgan said. See limited upside potential, even with an expected UAL merger. 

Update
Marriott International initiated at BMO Capital Markets
Jan 15, 2013 | 8:20 AM EST

Shares of MAR rated new Market Perform, BMO said. $41 price target. North America is not a bad place to be.

Nektar Therapeutics initiated at Lazard Capital
Jan 15, 2013 | 8:09 AM EST

Shares of NKTR rated new Buy, Lazard Capital said. $15 price target. A bounty of attractive late stage programs.

Pharmacyclics initiated at Credit Suisse
Jan 15, 2013 | 8:07 AM EST

Shares of PCYC rated new Outperform, Credit Suisse said. $79 price target. Most derisked pure play in oral lymphoma/leukemia drug class.

Patterson downgraded at Goldman
Jan 15, 2013 | 7:29 AM EST

PDCO was downgraded from Neutral to Sell, Goldman Sachs said. Company will likely be hurt by lower demand for high-tech dental equipment. 

Bullish
Petrologistics upgraded at Citigroup
Jan 15, 2013 | 8:08 AM EST

PDH was upgraded to Buy from Neutral, Citigroup said. $17 price target. Elevated propane to propylene spread seems sustainable given warm weather. 

PDL Biopharma downgraded at Credit Suisse
Jan 15, 2013 | 7:56 AM EST

PDLI was downgraded from Neutral to Underperform, Credit Suisse said. Valuation call, based on a $6 price target. 

Bearish
Principal Financial Group downgraded at Sterne Agee
Jan 15, 2013 | 8:18 AM EST

PFG was downgraded to Neutral from Buy, Sterne Agee said. Valuation call. 

Regeneron Pharmaceuticals downgraded at Jefferies
Jan 15, 2013 | 8:02 AM EST

Shares of REGN downgraded to Hold from Buy, Jefferies said. Limited upside on Eylea.

Sirona Dental downgraded at Goldman
Jan 15, 2013 | 7:28 AM EST

SIRO was downgraded from Buy to Neutral, Goldman Sachs said. Valuation call, based on a $67 price target. 

Symantec upgraded at Morgan Stanley
Jan 15, 2013 | 7:21 AM EST

SYMC was upgraded to Overweight, Morgan Stanley said. $25 price target. Visibility is improving and the company offers the best risk/reward in the industry.

Bearish
United Continental downgraded at JP Morgan
Jan 15, 2013 | 8:30 AM EST

UAL was downgraded to Neutral, JP Morgan said. Valuation call, based on a $30 price target. 

Vantiv rated new Neutral at UBS
Jan 15, 2013 | 8:04 AM EST

VNTV was initiated with a Neutral rating, UBS said. $22 price target. Attractive secular exposure, but fully valued shares. 

Vertex Pharmaceuticals downgraded at Lazard
Jan 15, 2013 | 8:27 AM EST

VRTX was downgraded to Neutral, Lazard Capital Markets said. Company is likely facing a transition year. 

Bearish
Watsco downgraded at Baird
Jan 15, 2013 | 6:43 AM EST

WSO was downgraded from Outperform to Neutral, Robert Baird said. Valuation call, based on a $77 price target. 

 

Stock Comments / EPS Changes

Apple estimates, target reduced at Nomura
Jan 15, 2013 | 7:24 AM EST

Shares of AAPL now seen reaching $530, according to Nomura. Estimates also cut, given lower expected iPhone sales. Neutral rating. 

Bullish
Caterpillar target raised at Credit Suisse
Jan 15, 2013 | 7:58 AM EST

Shares of CAT now seen reaching $124, according to Credit Suisse. Survey suggests that dealers are meeting sales forecasts. Outperform rating. 

Dell target raised at Jefferies
Jan 15, 2013 | 8:03 AM EST

Shares of DELL now seen reaching $13, Jefferies said. LBO is a possibility. Hold rating.

Bearish
Rock Tenn cut from Conviction Buy List at Goldman
Jan 15, 2013 | 7:26 AM EST

RKT was removed from the Conviction Buy list, according to Goldman Sachs. Valuation call, based on an $83 price target. 

Bullish
St. Jude Medical numbers raised at Jefferies
Jan 15, 2013 | 8:05 AM EST

Shares of STJ now seen reaching $39, Jefferies said. Estimates also raised on ending of near- term pressure from Riata/Durata. Hold rating.

Economics

Update
Empire Mfg.
Jan 15, 2013 | 6:20 AM EST

8:30am: Empire Manufacturing, Jan., est. 0 (prior -8.1)

Update
Advance Retail Sales
Jan 15, 2013 | 6:21 AM EST

8:30am: Advance Retail Sales, Dec. est. 0.2% (prior 0.3%)

Update
Retail Sales less Autos
Jan 15, 2013 | 6:22 AM EST

8:30am: Retail Sales Ex Auto & Gas, Dec., est. 0.4%

Update
PPI
Jan 15, 2013 | 6:22 AM EST

* 8:30am: PPI M/m, Dec., est. -0.1% (prior -0.8%)

Update
PPI ex Food & Energy
Jan 15, 2013 | 6:23 AM EST

8:30am: PPI Ex Food & Energy M/m, Dec., est. 0.2% (prior

    0.1%)

Update
Business Inventories
Jan 15, 2013 | 6:23 AM EST

10am: Bus. Inventories, Nov., est. 0.3%

Meetings

Update
Deutsche Auto Conf.
Jan 15, 2013 | 6:45 AM EST

Deutsche Bank dbAccess Global Auto Industry Conference coinciding with the North American International Auto Show

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