BB&T was upgraded at Compass Point to buy from neutral. $38 price target. Stock has underperformed its peers of late, Compass Point said.
Concur Technologies was downgraded at Oppenheimer to underperform from perform. Company will struggle to meet organic growth expectations, Oppenheimer said.
Centurylink was initiated with a hold rating at Deutsche Bank. $35 price target. Expect little EBITDA growth in the sector, Deutsche Bank said.
City National was initiated with a neutral rating at Goldman Sachs. Company is leveraged to rising interest rates, but lacks near-term catalysts, Goldman said. $62 price target.
First Republic Bank was initiated with a buy rating at Goldman Sachs. Stock was also placed on the Conviction List, Goldman said. Company can deliver solid growth over the next three to five years, Goldman said. $47 price target.
Level 3 was initiated with a buy rating at Deutsche Bank. $26 price target. Company is leveraged to strong growth for global IP traffic, Deutsche Bank said.
Patterson Dental was downgraded at Piper Jaffray to neutral from overweight. $36 price target. Company will not be able to meet earnings expectations, Piper Jaffray said.
Protective Life was downgraded at Bank of America/Merrill Lynch to underperform from neutral. $34 price target. Expectations for deal more than priced in, BofA/Merrill said.
Quanta Services was upgraded at DA Davidson to buy from neutral. $35 price target. Stock has pulled back, but the company should benefit from higher pipeline demand, DA Davidson said.
Wabco was downgraded at Robert Baird to neutral from outperform. Recent pullback has created a buying opportunity.
STOCK COMMENTS/EPS CHANGES
Alcoa price target and estimates were reduced at UBS. Earnings estimates through 2014 were taken down based on lower aluminum price assumptions and first-quarter results, said UBS. Price target goes to $9.
Compass Minerals numbers were increased at BMO Capital Markets. Estimates were raised through 2014. Company is seeing higher salt demand, BMO said. Market perform rating and new $75 price target, BMO said.
Brinker estimates, target were increased at Keybanc. Estimates were raised through 2015. Checks show better profitability trends, Keybanc said. Buy rating and new $45 price target.
Facebook estimates, price target were reduced at Oppenheimer. Shares are now seen reaching $32. Estimates also cut, given a lower outlook for mobile ad monetization, Oppenheimer said. Outperform rating.
Family Dollar estimates were cut at Jefferies. Estimates were reduced through 2014. Company is facing margin pressure, Jefferies said. Hold rating and $57 price target.
Gap price target was boosted at Jefferies to $56. Athleta continues to grow in value, Jefferies said. Buy rating.
JCPenney estimates were reduced at UBS. Earnings estimates through 2014 were cut after the company announced CEO Ron Johnson's departure, said UBS. The company has returned to heavier couponing in a weak sales environment. Price target remains $10.
Lazard estimates, price target were cut at Credit Suisse. Shares are now seen reaching $39. Estimates also reduced, given fewer deal closings, Credit Suisse said. Outperform rating.
Las Vegas Sands estimates were increased at Wells Fargo. Estimates were boosted through 2014. Macau continues to grow ahead of expectations, Wells Fargo said. Outperform rating.
Rite Aid price target and estimates were increased at UBS. Earnings estimates through 2014 were increased ahead of its earnings release on Thursday, said UBS. Debt refinancing will offset other EPS headwinds, UBS said. Price target is now $1.80.
UnitedHealth target raised at Credit Suisse to $71. PBM business is not being appreciated by investors, Credit Suisse said. Outperform rating.
Xcel Energy numbers were raised at Jefferies. Shares are now seen reaching $30.50. Estimates were also increased, given higher expected energy rates, Jefferies said. Hold rating.