NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Carlyle Group (CG) was downgraded at Citigroup to neutral from buy and given a $29 price target. Funding costs are elevated, private equity investments are tougher to make and valuation is rich, Citigroup said.
CenterPoint Energy (CNP) was downgraded at UBS to neutral from buy. Price target is $26. Catalysts are priced in and valuation is fair, UBS said.
Crocs (CROX) was downgraded at Sterne Agee to underperform. Bad management and a lack of transparency, Sterne Agee said. An undisclosed licensing agreement with an ex-CROX-executive haven, Backjoy.com, has spooked investors, Sterne Agee also said. Price target $10.Curtiss-Wright (CW) was downgraded at Bank of America/Merrill Lynch to neutral from buy. Price target is $46. Recent appreciation of the S&P 500 leaves little near-term upside, so the downgrade was because of valuation, BofA/Merrill said. Quest Diagnostics (DGX) was upgraded at Maxim Group to buy from hold. $73 price target. New management team is cutting costs and working to restore growth, Maxim Group said. FirstEnergy (FE) was downgraded to hold at TheStreet Ratings. Fusion-io (FIO) was downgraded at Benchmark to hold from buy. $13 price target. Company will likely have to cut pricing to grow sales, Benchmark said. Fusion-io was downgraded at Stifel Nicolaus to hold from buy. Gross margin outlook is concerning, Stifel Nicolaus said. Fusion-io was downgraded at Merrill Lynch to neutral. Limited visibility and margin erosion, Merrill Lynch said. Even if revenues grow, new market entrants will push down prices and shrink FIO margins, Merrill Lynch said.
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