NEW YORK (TheStreet) -- RATINGS CHANGES
American International Group was initiated with a buy rating at Citigroup. Combined ratio could be overstated by 7%, which could add another 55 cents a share to annual earnings, Citi said.
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Bank of America was upgraded at Goldman Sachs to buy. Twelve-month price target is $19. As legal issues have passed, investors can now focus on the meaningful business improvement, Goldman said.
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Celadon Group was upgraded to buy at TheStreet Ratings.
Ford Motor was downgraded at Morgan Stanley to underweight. Twelve-month price target is $16. U.S. auto sales appear to be pulling forward future sales, Morgan Stanley said.
FireEye was upgraded at UBS to buy from neutral. Twelve-month price target is $40. Valuation call, as the stock is down 67% from its March peak, UBS said.
GoPro was initiated with an outperform rating at FBN Securities. Twelve-month price target is $70. Company is a best-of-breed operator and can deliver rapid growth, FBN Securities said.
Infinera was upgraded at Jefferies to buy from hold. Twelve-month price target is $14. New WDM product line should drive growth in the coming quarters, Jefferies said.
Joy Global was downgraded to hold at TheStreet Ratings.
Keryx was downgraded at FBR Capital Markets to underperform from market perform. Company received a restrictive label for dialysis patients, FBR Capital Markets said.
L-3 Communications was upgraded at Oppenheimer to outperform from perform. Twelve-month price target is $128. Firm has been punished excessively for accounting issues, Oppenheimer said.
Pinnacle West was upgraded at Wells Fargo to outperform from market perform. Valuation call, based on recent positive regulatory developments, Wells Fargo said.
Portland General was downgraded at Wells Fargo to market perform from outperform. Valuation call, Wells Fargo said.
Sandisk was initiated with an outperform rating at FBN Securities. Twelve-month price target is $120. Company is growing well in the NAND flash market, FBN Securities said.
Synchrony Financial was initiated with a neutral rating at Nomura. Twelve-month price target is $23. Company is losing partners, as rising costs are compressing margins, Nomura said.
Tesla was initiated with an outperform rating at FBN Securities. Twelve-month price target is $325. Company is gaining market share and outselling other luxury sedans by a wide margin, FBN Securities said.
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