Upgrades & Downgrades

Format: 2015-09-02
Format: 22:30

Change in Ratings

Bearish
Alon USA downgraded at Goldman
Feb 05, 2013 | 7:55 AM EST

ALJ was downgraded from Buy to Neutral, Goldman Sachs said. Valuation call, as the stock is up more than 33% since late December. $21 price target.

Associated Banc-Corp downgraded at Oppenheimer
Feb 05, 2013 | 8:15 AM EST

Shares of ASBC downgraded to Perform from Outperform, Oppenheimer said. Market has recognized turnaround.

Associated Banc-Corp upgraded at Morgan Stanley
Feb 05, 2013 | 7:22 AM EST

ASBC was upgraded to Equal-weight, Morgan Stanley said. $14 price target. Management is turning the business around. 

Bearish
AvalonBay Communities downgraded at Jefferies
Feb 05, 2013 | 8:06 AM EST

Shares of AVB downgraded to Hold from Buy, Jefferies said. $135 price target. 2013 outlook disappointment.

Bullish
Armstrong World upgraded at Barclays
Feb 05, 2013 | 8:26 AM EST

AWI was upgraded from Equal-weight to Overweight, Barclays said. $64 price target. Company will continue to benefit from a housing shortage. 

Bed Bath & Beyond upgraded at Citigroup
Feb 05, 2013 | 8:14 AM EST

BBBY was upgraded to Buy from Neutral, Citigroup said. $67 price target. Compelling valuation and improving differentiation.

Bullish
BB&T upgraded at Guggenheim
Feb 05, 2013 | 7:38 AM EST

BBT was upgraded from Neutral to Buy, Guggenheim said. $38 price target. Company will likely raise its dividend in the near term. 

Baidu downgraded at Stifel
Feb 05, 2013 | 8:01 AM EST

BIDU was downgraded from Buy to Hold, Stifel Nicolaus said. Company is spending more to invest in online video and mobile internet. 

 

Bearish
Bank of NY Mellon downgraded at Guggenheim
Feb 05, 2013 | 7:39 AM EST

BK was downgraded from Buy to Neutral, Guggenheim said. Valuation call, based on a $28 price target. 

Bullish
Cullen/Frost Bankers upgraded at Oppenheimer
Feb 05, 2013 | 8:17 AM EST

Shares of CFR upgraded to Outperform from Perform, Oppenheimer said. $68 price target. Loan growth is beginning to accelerate.

Bearish
CIT Group downgraded at Nomura
Feb 05, 2013 | 7:15 AM EST

CIT was downgraded from Buy to Neutral, Nomura said. $45 price target. Valuation call, as the stock is up 16% over the past two months. 

Clearwire downgraded at DA Davidson
Feb 05, 2013 | 7:48 AM EST

CLWR was downgraded from Neutral to Underperform, DA Davidson said. DISH deal will likely not go through. $2.97 price target. 

Bullish
DR Horton upgraded at Barclays
Feb 05, 2013 | 8:24 AM EST

DHI was upgraded from Equal-weight to Overweight, Barclays said. $27 price target. Expect better credit availability to drive demand for entry-level homes. 

Bottomline downgraded at Craig-Hallum
Feb 05, 2013 | 8:15 AM EST

EPAY was downgraded from Buy to Hold, Craig-Hallum said. Valuation call, based on a $29 price target. 

Bearish
Equity Residential downgraded at Jefferies
Feb 05, 2013 | 8:08 AM EST

Shares of EQR downgraded to Hold form Buy, Jefferies said. $58 price target. Negative read through from AVB results.

Iconix Brand Group downgraded at Citigroup
Feb 05, 2013 | 8:23 AM EST

ICON was downgraded to Neutral from Buy, Citigroup said. $25 price target. Buffalo acquisition nice, but pricey. 

Bearish
Invesco downgraded at BMO
Feb 05, 2013 | 8:14 AM EST

IVZ was downgraded from Outperform to Market Perform, BMO Capital said. Valuation call, based on a $29 price target. 

Bearish
Kohl's downgraded at Citigroup
Feb 05, 2013 | 8:20 AM EST

KSS was downgraded to Neutral from Buy, Citigroup said. $50 price target. Difficult turnaround attempt. 

Life Technologies downgraded at Leerink
Feb 05, 2013 | 8:11 AM EST

LIFE was downgraded from Outperform to Market Perform, Leerink Swann said. Taking a cautious view on the next generation sequencing business and the stock has made a big run. 

Bearish
Legg Mason downgraded at BMO
Feb 05, 2013 | 8:13 AM EST

LM was downgraded from Market Perform to Underperform, BMO Capital said. $26 price target. Company is not positioned well to participate in a reflection toward equities. 

Bullish
Macy's upgraded at Citigroup
Feb 05, 2013 | 8:17 AM EST

M was upgraded to Buy from Neutral, Citigroup said. $46 price target. Benficiary of a stronger housing market. 

Bearish
National Oilwell downgraded at Bernstein
Feb 05, 2013 | 7:57 AM EST

NOV was downgraded from Outperform to Market Perform, Bernstein Research said. $80 price target. Backlog will likely soon peak. 

Bearish
National Oilwell Varco downgraded at Bernstein
Feb 05, 2013 | 8:34 AM EST

NOV was downgraded to Market Perform from Outperform, Bernstein said. $80 price target. Expectations that backlogs will soon peak. 

New York Community Bancorp upgraded at Morgan Stanley
Feb 05, 2013 | 7:19 AM EST

NYCB was upgraded to Overweight, Morgan Stanley said. $15 price target. Company restructured its debt and net interest margin is holding up better than expected.

Bearish
PulteGroup downgraded at Barclays
Feb 05, 2013 | 8:22 AM EST

PHM was downgraded from Overweight to Equal-weight, Barclays said. $21 price target. New homes prices will likely flatten out. 

Realogy downgraded at Barclays
Feb 05, 2013 | 8:25 AM EST

RLGY was downgraded from Overweight to Equal-weight, Barclays said. Valuation call, based on a $46 price target. 

Bearish
Sandridge downgraded at JP Morgan
Feb 05, 2013 | 8:17 AM EST

SD was downgraded from Overweight to Underweight, JP Morgan said. $5 price target. Company faces a potential financial crunch. 

Bearish
State Street downgraded at Guggenheim
Feb 05, 2013 | 7:41 AM EST

STT was downgraded from Buy to Neutral, Guggenheim said. $63 price target. Valuation call, as the stock is up 32% since the Fall. 

Bearish
Constellation Brands downgraded at Stifel
Feb 05, 2013 | 8:03 AM EST

STZ was downgraded from Buy to Hold, Stifel Nicolaus said. DOJ suit adds risk to the story. 

 

Bullish
Stillwater Mining upgraded at JP Morgan
Feb 05, 2013 | 8:18 AM EST

SWC was upgraded from Neutral to Overweight, JP Morgan said. $19 price target. Company is leveraged to rising palladium prices. 

Bearish
Stryker downgraded at UBS
Feb 05, 2013 | 8:24 AM EST

SYK was downgraded to Neutral from Buy, UBS said. Reasonably valued and strong recent move. 

Bullish
Target upgraded at Citigroup
Feb 05, 2013 | 8:19 AM EST

TGT was upgraded to Buy from Neutral, Citigroup said. $72 price target. Well positioned to gain market share through the new Threshold line. 

Bearish
Toll Brothers downgraded at Barclays
Feb 05, 2013 | 8:21 AM EST

TOL was downgraded to Underweight from Equal-weight, Barclays said. $36 price target. Expect a shift toward more entry-level home buyers. 

Ulta Salon rated new Outperform at Credit Suisse
Feb 05, 2013 | 8:29 AM EST

Coverage of ULTA was started with an Outperform rating, Credit Suisse said. $120 price target. Company has large competitive advantages and can continue to grow. 

Bullish
UnitedHealth upgraded at Goldman
Feb 05, 2013 | 7:37 AM EST

UNH was upgraded from Neutral to Buy, Goldman Sachs said. Company was also placed on the Conviction List. Company is an industry leader and leveraged to healthcare reform. $68 price target.

Update
Williams-Sonoma rated new Neutral at Credit Suisse
Feb 05, 2013 | 8:30 AM EST

WSM was initiated with a Neutral rating, Credit Suisse said. $49 price target. Company has posted inconsistent results. 

Bearish
Yum Brands downgraded at Baird
Feb 05, 2013 | 6:42 AM EST

YUM was downgraded from Outperform to Neutral, Robert Baird said. $72 price target. China outlook remains uncertain and management lowered guidance. 

 

Zynga upgraded at BofA/Merrill
Feb 05, 2013 | 7:42 AM EST

ZNGA was upgraded from Underperform to Buy, Bank of America/Merrill Lynch said. Valuation call, based on a $3.40 price target. 

Bearish
Quiksilver downgraded at B. Riley Caris
Feb 05, 2013 | 7:53 AM EST

ZQK was downgraded from Buy to Neutral, B. Riley Caris said. $6.70 price target. Company remains exposed to Europe. 

 

Stock Comments / EPS Changes

Bullish
Abbott target raised at Jefferies
Feb 05, 2013 | 8:09 AM EST

Shares of ABT now seen reaching $40, Jefferies said. Conservative guidance sets the stage for EPS momentum. Buy rating.

Bullish
Edwards Lifesciences numbers raised at Jefferies
Feb 05, 2013 | 8:11 AM EST

Shares of EW now seen reaching $114, Jefferies said. Estimates also raised on Sapian launch back on track. Buy rating.

Gilead Sciences target lowered at Oppenheimer
Feb 05, 2013 | 8:23 AM EST

Shares of GILD now seen reaching $45, Oppenheimer said. Reflective of stock split. Outperform rating.

Bullish
Humana numbers raised at Jefferies
Feb 05, 2013 | 8:12 AM EST

Shares of HUM now seen reaching $93, Jefferies said. Estimates also raised on rising confidence. Buy rating.

Bullish
Marathon Petroleum target raised at Oppenheimer
Feb 05, 2013 | 8:26 AM EST

Shares of MPC now seen reaching $90, Oppenheimer said. Strong outlook boosts valuation. Outperform rating.

Netflix estimates, target raised at BMO
Feb 05, 2013 | 8:28 AM EST

Shares of NFLX now seen reaching $165, according to BMO Capital. Estimates also increased, given higher subscriber expectations. Market Perform rating. 

Bearish
Yum! Brands numbers lowered at Oppenheimer
Feb 05, 2013 | 8:27 AM EST

Shares of YUM now seen reaching $70, Oppenheimer said. Estimates also lowered on China problems. Outperform rating.

Economics

Update
ISM non-Mfg.
Feb 05, 2013 | 6:14 AM EST

10am: ISM Non-Manf. Composite, Jan., est. 55.0 (prior 55.7)

Meetings

Update
Credit Suisse Energy Conf.
Feb 05, 2013 | 6:46 AM EST

Credit Suisse Energy Summit

Stifel Technology Conf.
Feb 05, 2013 | 6:45 AM EST

Stifel, Nicolaus & Company Technology Conference (Day 1 of 3) - 02/05/13 - 02/07/13 San Francisco, CA

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