Monday's Analysts' Upgrades and Downgrades
CHANGE IN RATINGSArvinMeritor (ARM) downgraded at Goldman Sachs: Goldman is downgrading ARM to Sell from Neutral due to rising materials costs, slow margin progress and lack of catalysts. Price target cut to $12 from $16.
Freescale Semiconductor (FSL) downgraded at UBS: UBS is downgrading FSL to Neutral from Buy based on valuation after board approved sale to private equity firms for $17.6 billion. Raised target price to $40 from $36.
Symantec (SYMC) upgraded at Credit Suisse: Credit Suisse is upgrading SYMC to Outperform from Neutral based on near-term positives. Raised target price to $24 from $19.
Watson Wyatt (WW) downgraded at UBS: UBS is downgrading WW to Neutral from Buy based on valuation. Sees no big boost from pension litigation. Lowered target price to $42 from $45.
STOCK COMMENTS / EPS CHANGESRockwell Collins (COL) price target increased at Jefferies: Jefferies is upping its target on COL to $52 from $50 after company gave inline guidance. See opportunities in military and commercial communications priced into shares. Reiterated Hold rating. Cisco (CSCO) price target raised at Goldman: Goldman is increasing its target on CSCO to $27 from $25 based on positive IT spending survey results. Maintain Buy rating. Convergys (CVG) target price raised at FBR: FBR is raising its target price on CVG to $28 as company as strong industry fundamentals will benefit industry leader. Maintained Outperform rating.
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