Intel Cut; Anheuser-Busch and Big Lots Are Looking Better

In Tuesday's Analysts' Actions, TheStreet highlights a downgrade for Intel (INTC) following its Altera Corp (ALTR) acquisition, while Anheuser Busch Inbev SA (BUD) and Big Lots (BIG) get a higher rating. Analysts at BMO Capital downgraded shares of Intel to MARKET PERFORM from OUTPERFORM following its $54 a share purchase of Altera. The firm believes Altera is only worth $28 a share, and thinks Intel paid too much. Analysts at Susquehanna upgraded Anheuser-Busch to POSITIVE from NEUTRAL to reflect what the firm sees as 'imminent.' Additionally, Big Lots was upgraded to OVERWEIGHT from EQUAL WEIGHT at Barclays. The firm maintained its $53 price target. Barclays believes the discount retailer has had 'meaningful progress' in its initiatives. TheStreet's Kurumi Fukushima reports in New York.