Analysts' Actions: APA BBY FCX PWR TRIP

TheStreet Staff
December 10, 2012


NEW YORK (TheStreet) -- CHANGE IN RATINGS
Advance Auto Parts AAP coverage was resumed at Bank of America with a neutral rating. $78 price target. Buyout unlikely in near term, Bank of America said.
Apache APA was downgraded at Deutsche Bank to hold from buy. $90 price target. Operating trends moving in the wrong direction, Deutsche said.
athenahealth ATHN was upgraded at Sterne Agee to neutral from underperform. $72 price target. Confidence following investor day, Sterne Agee said.
Best Buy BBY was downgraded at Bank of America to underperform from no rating. $9 price target. Trading on fundamentals, Bank of America said.

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Carlisle Companies CSL was upgraded at KeyBanc to buy from hold. $74 price target. Upside catalyzed by M&A activity, KeyBanc said.
Chimera Investment CIM upgraded to buy at TheStreet Ratings.
Esterline Technologies ESL upgraded to buy at TheStreet Ratings.
Freeport-McMoRan FCX coverage was reinstated at Bank of America with a neutral rating. $39 price target. Transformational but dilutive deal, BofA said.
MDU Resources MDU was upgraded at Citigroup to buy from neutral. $29 price target. Breakup to unlock value, Citi said.
Noble Energy NBL was downgraded at Sterne Agee to neutral from buy. $109 price target. Growth is priced into shares, Sterne Agee said.
Quanta Services PWR was initiated with a buy rating at Deutsche Bank. $31 price target. Bullish on longer-term growth prospects, Deutsche said.

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SM Energy SM was downgraded at Deutsche Bank to hold from buy. $62 price target. Less conviction in 2013 outlook, Deutsche said.
TripAdvisor TRIP was upgraded at Deutsche Bank to buy from hold. $50 price target. Will benefit from increasing competition in the OTA space, Deutsche said.
Ultra Petroleum UPL was upgraded at Sterne Agee to neutral from underperform. $20 price target. Confidence in ability to weather challenging operating environment, Sterne Agee said.

STOCK COMMENTS / EPS CHANGES


Apple AAPL price target was lowered at Jefferies to $800. Fiscal 2014 could see negative margin leverage leading to multiple compression, Jefferies said. Buy rating.
AIG AIG numbers were cut at UBS. Shares are now seen reaching $35. Estimates were also lowered as Sandy losses were twice our estimate, UBS said. Neutral rating.
Fastenal FAST estimates were cut at UBS through 2013. End-market pressures, UBS said. Neutral rating and $45 price target.
Noble Energy numbers were raised at BMO. Shares are now seen reaching $120. Estimates also increased on higher quality beta appeal of stock, BMO said. Outperform rating.
Vulcan Materials Company VMC price target was raised at D.A. Davidson. Shares are now seen reaching $54. Early signs of improved construction activity, D.A. Davidson said. Neutral rating.
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