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Apple, RIM, PNC, IBM: Analysts' New Ratings

Stocks in this article: AAPL ALKS ARUN

Editor's Note: Green and red arrows refer to intraday stock price movement.

NEW YORK ( TheStreet) -- CHANGE IN RATINGS

Apple (AAPL - Get Report) estimates, target lowered at Oppenheimer. AAPL estimates were cut through 2012. Visibility remains poor on the next iPhone launch. Outperform rating and new $420 price target.

Apple (AAPL - Get Report) rated new Outperform at FBN Securities. $500 price target. Company is a leader in fast-growing markets.

Alkermes (ALKS) rated new Buy at MKM Partners. $20 price target. ELN deal should help add to growth.

Aruba Networks (ARUN - Get Report) rated new Outperform at Morgan Keegan. $35 price target. Company is leveraged to higher demand for a distributed workforce.

Biogen Idec (BIIB) upgraded at Deutsche Bank from Hold to Buy. $129 price target. Large cap biotech stock with significant opportunity for upside.

Salesforce.com (CRM) rated new Neutral at JP Morgan. Shares are fairly valued given recent operating spend. $140 price target.

Dell (DELL) rated new Outperform at FBN Securities. $19 price target. Company has solid exposure to enterprise market.

Hewlett-Packard (HPQ) rated new Sector Perform at FBN Securities. $38 price target. Company's execution has been poor in recent quarters.

IBM (IBM) rated new Outperform at FBN Securities. $200 price target. Company can continue to deliver consistent growth over the next few years.

McDermott (MDR) rated new Buy at Goldman. Company was also added to the Conviction List. $26 price target. Company has pure exposure to offshore energy growth.

Motorola Mobility (MMI) downgraded at Credit Suisse from Outperform to Underperform. $19 price target. Estimates also cut, as the company is facing increased competition.

Progressive (PGR) upgraded at Ticonderoga from Neutral to Buy, Ticonderoga said. $24 price target. Company is a market leader and deserves a premium valuation.

PNC Financial (PNC) downgraded at KBW from Outperform to Market Perform. $67 price target. RBC acquisition adds integration risk to the story.

Research in Motion (RIMM) downgraded at Credit Suisse from Outperform to Neutral, Credit Suisse said. $30 price target. Estimates also cut, as the company has been slow to innovate its smartphone offerings.



More to come

This article was written by a staff member of TheStreet.

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