NEW YORK (TheStreet
) -- CHANGE IN RATINGS
ADT was downgraded at Morgan Stanley to underweight from equal-weight. $48 price target. Valuation call, Morgan Stanley said.
Affiliated Manager Group was upgraded at Bank of America/Merrill Lynch to buy from neutral. Estimates were increased on the potential for acquisitions, BofA/Merrill said. Price target is now $165.
Atmel was upgraded at FBR Capital Markets to outperform from market perform. $8.25 price target. Fundamentals remain strong, despite the recent management departure, and the stock is attractive to buy on a pullback, FBR Capital Markets said.
Boston Scientific was downgraded at Credit Suisse to neutral from outperform. Valuation call, based on an $8.50 price target, Credit Suisse said.
Casey's General Stores was downgraded at Bank of America/Merrill Lynch to neutral because of valuation. Earnings estimates were tweaked, and the new price target is $63, BofA/Merrill said.
Cubist Pharmaceuticals was downgraded at Cantor Fitzgerald to sell from hold. Valuation call, based on a $40 price target, Cantor Fitzgerald said.
Cigna was downgraded at Citigroup to neutral. With the stock at an all-time high, the valuation is full, Citi said. New price target is $65.
Charles River Laboratories was downgraded at Citigroup to sell from neutral/high risk. Given unfavorable market pressures, the sequestration and valuation, CRL is overvalued, Citi said. Price target goes to $37.
CARBO was initiated with a neutral rating at Goldman Sachs. The company benefits from an inflecting NAM land cycle and E&P focus on cost controls, but risks remain, Goldman said. Price target is $110.
Eaton was initiated with an equal-weight rating at Morgan Stanley. $70 price target. Strong recent performance and bullish consensus, Morgan Stanley said.
Eaton Vance was downgraded at Bank of America/Merrill Lynch to neutral from outperform. The stock is trading at a 15% premium to peers, leaving little upside. Price target remains $42.
Key Energy was upgraded at FBR Capital Markets to outperform from market perform. $10 price target. U.S. land market is tightening, FBR Capital Markets said.
Bank of the Ozarks was downgraded at Wunderlich to hold from buy. Valuation call, as the stock is up about 50% since July, Wunderlich said. $43 price target.
Solar Winds was upgraded at Morgan Stanley to equal weight. Accelerating volume growth and stabilized sales productivity warrants current valuation, Morgan Stanley said. Price target increased to $67.
TCF Financial was downgraded at Oppenheimer to perform from outperform. Valuation call, as the stock has approached the previous $15 price target, Oppenheimer said.
Unum was downgraded at J.P. Morgan to neutral. Industry fundamentals remain mixed, J.P. Morgan said.
STOCK COMMENTS/EPS CHANGES
Bank of America price target and estimates were raised at Sterne Agee. Earnings estimates were raised on a more optimistic outlook for market-sensitive revenues and reductions in debt, Sterne Agee said. Price target goes to $13.
Noble Energy price target was raised at UBS to $145 after a meeting with management, UBS said. Guidance seems conservative, and cash flow does not reflect deep queue of exploration prospects, UBS said.
Panera Bread numbers were raised at Oppenheimer. Shares are now seen reaching $200. Estimates were also increased, given higher expected sales and falling wheat prices, Oppenheimer said. Outperform rating.
Tesoro estimates were increased at UBS. Estimates for 2013 were increased to reflect refining expectations in the first quarter, said UBS.
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- Morgan Stanley
- FBR Capital Markets