NEW YORK (TheStreet) -- CHANGE IN RATINGS
Carlyle Group was downgraded at Citigroup to neutral from buy and given a $29 price target. Funding costs are elevated, private equity investments are tougher to make and valuation is rich, Citigroup said.
CenterPoint Energy was downgraded at UBS to neutral from buy. Price target is $26. Catalysts are priced in and valuation is fair, UBS said.
Crocs was downgraded at Sterne Agee to underperform. Bad management and a lack of transparency, Sterne Agee said. An undisclosed licensing agreement with an ex-CROX-executive haven, Backjoy.com, has spooked investors, Sterne Agee also said. Price target $10.
Curtiss-Wright was downgraded at Bank of America/Merrill Lynch to neutral from buy. Price target is $46. Recent appreciation of the S&P 500 leaves little near-term upside, so the downgrade was because of valuation, BofA/Merrill said.
Quest Diagnostics was upgraded at Maxim Group to buy from hold. $73 price target. New management team is cutting costs and working to restore growth, Maxim Group said.
FirstEnergy was downgraded to hold at TheStreet Ratings.
Fusion-io was downgraded at Benchmark to hold from buy. $13 price target. Company will likely have to cut pricing to grow sales, Benchmark said.
Fusion-io was downgraded at Stifel Nicolaus to hold from buy. Gross margin outlook is concerning, Stifel Nicolaus said.
Fusion-io was downgraded at Merrill Lynch to neutral. Limited visibility and margin erosion, Merrill Lynch said. Even if revenues grow, new market entrants will push down prices and shrink FIO margins, Merrill Lynch said.
Groupon was upgraded at UBS to neutral from sell. Price target is now $11. A permanent CEO and new buyback program signal more stability, UBS said.
Lowe's was upgraded at J.P. Morgan to overweight from neutral. $52 price target. Improving execution is becoming more evident in stores, J.P. Morgan said.
Netflix was initiated with a neutral rating at Robert Baird. $263 price target. Valuation call, as the stock is up 170% year to date, Baird said.
Nike was initiated with an outperform rating at Wells Fargo. Company should benefit from industry trends and can expand margins, Wells Fargo said.
Oasis Petroleum was downgraded at Canaccord Genuity to hold. Concern that margin expansions have been fully priced into the stock, said Canaccord Genuity. Canaccord also said it sees little remaining upside as production growth slows and the advent of pad drilling presents strong competition.
Owens-Corning was downgraded to hold at TheStreet Ratings.
Panera Bread was upgraded at Wunderlich to buy from hold. $212 price target. Stock is attractive following a recent pullback as management can improve sales and operating trends, Wunderlich said.
Sun Edison was upgraded at Bank of America/Merrill Lynch to buy from neutral. Price target was increased to $10. Diversity of their pipeline will grow earnings and attract project capital, BofA/Merrill said.
Stanley Black & Decker was downgraded at KeyBanc to hold. Despite positive long-term growth indicators, KeyBanc believes the stock is fully valued despite low-multiple trading, KeyBanc said.
Target was downgraded at J.P. Morgan to neutral from overweight. $74 price target. Estimate visibility fading, J.P. Morgan said.
Under Armour was initiated with a market perform rating at Wells Fargo. Valuation call, Wells said.
Stock Comments / EPS Changes
AOL price target was raised at Jefferies to $55. Strong second quarter and highly synergistic bolt-on acquisition of Adap.tv, Jefferies said. Buy rating.
AOL estimates were raised at UBS to reflect the Adap.tv acquisition and better cost controls, said UBS. Price target is $45.
Avnet numbers were boosted at Citigroup. Estimates were raised given the fiscal fourth-quarter beat and improving confidence in end-market demand, said Citigroup. Price target goes to $44.25.
Continental numbers were raised at UBS. Estimates were increased given strong production growth, said UBS. Price target was boosted to $110.
Devon Energy numbers were raised at UBS. Devon estimates were increased on the second-quarter beat and higher production guidance, said UBS. Price target goes to $60.
Fusion-io numbers were cut at UBS. Estimates were reduced as the new CEO reset expectations, said UBS. Price target goes to $16.
Green Mountain numbers were raised at Lazard Capital Markets. Shares of GMCR are now seen reaching $97. Estimates were also increased, given continued K-Cup growth, Lazard Capital Markets said. Buy rating.
Mondelez International price target was raised at Jefferies to $33. Second-quarter results were ahead of expectation due to strong below-the-line performance, Jefferies said. Hold rating.
Melco Crown numbers were boosted at Citigroup. Estimates were raised as margins are set to expand, leading to outperformance, Citigroup. Price target goes to $37.50.
Newcastle Investment estimates were reduced at UBS. Estimates were trimmed to reflect the spinoff of New Residential, said UBS. Price target is $6.50.
Prudential Financial numbers were raised at UBS. Estimates were increased on the second-quarter beat and a strong U.S. business, said UBS. Price target upped to $86.
Prudential Financial estimates, target were boosted at Bank of America/Merrill Lynch. Shares are now seen reaching $79. Estimates were also increased, given higher international growth, BofA/Merrill said. Neutral rating.
Ralph Lauren estimates were reduced at UBS. Estimates were trimmed as management invests in the business, said UBS. Price target is $195.
Tesla Motors numbers were raised at Jefferies. Shares are now seen reaching $160. Estimates were also increased on strong second-quarter results. Buy rating.
Tesla estimates, price target were increased at Wedbush. Estimates were increased through 2014. Company is selling more cars than expected, Wedbush said. Neutral rating and new $150 price target.
Tumi Holdings numbers were lowered at Jefferies. Shares are now seen reaching $28. Estimates were also lowered on lighter-than-expected second-quarter results and lowered outlook, Jefferies said. Buy rating.
Valeant numbers were raised at UBS. Estimates were boosted on emerging-market strength and as B&L is tracking ahead of plan, said UBS. Price target goes to $115.
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