NEW YORK (TheStreet) -- CHANGE IN RATINGS
United Healthcare (UNH) was initiated with a buy rating at UBS. The company's scale, cash flow and growth in the Optum business will drive upside to shares, said UBS. Price target is $72.
Aetna (AET) was initiated with a buy rating at UBS. The Coventry Healthcare acquisition helps position the company to meet or exceed its 10% EPS CAGR target, said UBS. Price target is $63.
Comcast (CMCSA) coverage was started with a neutral rating at Baird. Valuation call, based on a $44 price target, Robert Baird said.Time Warner Cable (TWC) was initiated with a neutral rating at Baird. Valuation call, based on a $102 price target, Robert Baird said. F5 Networks (FFIV) shares were downgraded to neutral/high risk from buy/high risk at Citi. The company pre-announced earnings well below guidance given difficulty in deal closures, telecom weakness and soft government sales, said Citigroup.
F5 Networks was downgraded from overweight to neutral at Piper. $82 price target. Weak product sales have persisted, Piper Jaffray said.. F5 Networks was downgraded from outperform to market perform at William Blair. ADC market appears to have become saturated, William Blair said. F5 Networks was downgraded from buy to hold at Topeka. $70 price target. Company faces too many growth headwinds, Topeka Capital said. Mattel (MAT) was downgraded from buy to hold at Keybanc. Valuation call, as the stock has gained 23% year-to-date, Keybanc said. WellPoint (WLP) was initiated with a neutral rating at UBS. The appointment of a new CEO in March at a time when the core businesses face significant change drives uncertainty, said UBS. Price target is $70.
STOCK COMMENTS/EPS CHANGES AmerisourceBergen (ABC) estimates were raised through 2014 at Lazard. Walgreen relationship and buybacks can drive profit upside, Lazard Capital Markets said. Buy rating and new $60 price target. Franklin Resources (BEN) estimates were boosted through 2014 at Jefferies. Company is leveraged to domestic equity market gains, Jefferies said. Hold rating and new $155 price target. Caterpillar (CAT) estimates and target cut at BofA/Merrill. Shares of CAT now seen reaching $95, according to Bank of America/Merrill Lynch. Company is leveraged to weaker mining trends. Neutral rating.
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