Editor's Note: Green and red arrows refer to intraday stock price movement.
NEW YORK (TheStreet) -- CHANGE IN RATINGS
Adobe Systems (ADBE) downgraded at FBR from Market Perform to Underperform. $28 price target. Creative Suite is losing its ability to drive business.
AO Smith (AOS) upgraded at Maxim from Hold to Buy. $50 price target. Company is performing well, despite rising raw materials costs.Blackboard (BBBB) downgraded at BofA/Merrill from Buy to Underperform, Bank of America/Merrill Lynch said. $48 price target. Valuation call, as the company evaluates unsolicited bids. Blackboard (BBBB) downgraded at Baird from Outperform to Neutral, Robert Baird said. Valuation call, based on a $50 price target. Cubist Pharmaceuticals (CBST) upgraded at Oppenheimer from Perform to Outperform, Oppenheimer said. $37 price target. Recent settlement with TEVA was favorable for the company. Cree (CREE) downgraded at Kaufman from Hold to Sell, Kaufman Bros. said. $29 price target. Company is seeing weaker demand and lacks visibility. Cree (CREE) downgraded at Merriman from Buy to Neutral, Merriman Capital said. Estimates also cut, as the company is facing weaker margins. CreXus Investment (CXS) initiated at Credit Suisse with an Outperform rating and $13 price target. Refinancing key to achieveing premium to book, Credit Suisse said. Intel (INTC) upgraded at FBR from Market Perform to Outperform, FBR Capital Markets said. $27 price target. PC market can still grow, even as demand for tablets and smartphones ramp. Intel estimates, target boosted at UBS. Shares of INTC now seen reaching $28.50, according to UBS. Estimates also upped, given higher PC demand. Buy rating. Juniper Networks (JNPR) downgraded at Ticonderoga from Buy to Neutral. Valuation call, as the company offered a soft profit outlook. Juniper Networks numbers reduced at UBS. JNPR estimates were cut through 2012. Company is seeing weaker enterprise demand. Neutral rating and new $42 price target. Kinder Morgan (KMI) rated new Outperform at Morgan Keegan. $33 price target. Company can generate double-digit dividend growth over each of the next three years. Lamar Advertising (LAMR) upgraded at Benchmark from Hold to Buy, Benchmark Company said. $40 price target. Stock has pulled back 20%, but the company can deliver solid growth.
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