NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Bristol-Myers (BMY) was downgraded to neutral at Bank of America/Merrill Lynch. The upside potential does not justify a buy rating, though the dividend yield and pipeline are attractive, BofA/Merrill said. Estimates through 2014 were increased, price target is $39.
Cloud Peak Energy (CLD) was upgraded at Goldman Sachs to buy. The company should benefit from rising PRB coal/natural gas prices, Goldman said. Price target is now $21.
Consol Energy (CNX) was downgraded at Goldman Sachs to neutral. Still see positive catalysts, but believe that others have more upside, Goldman said. Price target is now $36.Cyberonics (CYBX) was upgraded at Lazard Capital Markets to buy. A proprietary survey showed that sales reps were not using inappropriate sales tactics, making the recent pullback a buying opportunity, Lazard Capital Markets said. Estimates through 2014 were raised, $57 price target. Dean Foods (DF) was upgraded at KeyBanc to buy. The company's structural transition to a fluid milk pure play will drive cost savings that aren't currently realized in the stock price, KeyBanc said. Price target is $21. Exlservice (EXLS) was downgraded at Needham from buy to hold. Company is facing increased competition, Needham said. Fifth & Pacific (FNP) was initiated with a buy rating at Sterne Agee. The company is the top specialty retailer pick given growth prospects and misunderstood fundamentals, Sterne Agee said. Price target is $26. Foster Wheeler (FWLT) was downgraded at Stifel Nicolaus from buy to hold. Company faces growth headwinds and lacks potential near-term catalysts, Stifel Nicolaus said. Gap (GPS) was initiated with a sell rating at Sterne Agee. Structural headwinds, including tough compares and inventory levels, will weigh on margins, Sterne Agee said. Price target is $29. Michael Kors (KORS) was initiated with a neutral rating at Sterne Agee. Margins at the company could be nearing the end of the runway, Sterne Agee said. Price target is $63. McDermott (MDR) was downgraded at KeyBanc to hold. The company's cost position as it transitions to deep-water work is a concern, KeyBanc said. There is a risk to margins and stimates were lowered through 2014, Keybanc added.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV