NEW YORK (
CHANGE IN RATINGS
Advanced Micro Devices
upgraded at Jefferies to Buy from Hold, Jefferies said. $10.50 price target. One of best risk reward ratios in semis.
downgraded at Auriga from Hold to Sell, Auriga USA said. Valuation call, based on a $57 price target.
downgraded to sell at TheStreet Ratings.
Digital Realty Trust
downgraded at Jefferies to Hold from Buy, Jefferies said. $73 price target. Valuation finally catching up with the story.
downgraded at Credit Suisse from Outperform to Neutral, Credit Suisse said. Valuation call, based on a $40 price target.
downgraded at UBS to Neutral from Buy, UBS said. $85 price target. Cheap natural gas is leading US utilities to switch from coal.
downgraded at BofA/Merrill from Neutral to Underperform, Bank of America/Merrill Lynch said. $26 price target. Estimates also cut, because of higher compensation rates.
Level 3 Communications
upgraded at BofA/Merrill to Buy, Bank of America/Merrill Lynch said. Risk/reward is attractive at current levels. $37.50 price target.
upgraded to buy at TheStreet Ratings.
rated new Hold at Dahlman. Company is leveraged to long-dated gas production, but has near-term cash flow risks.
rated new Outperform at Credit Suisse. $63 price target. Volumes should recover without the need for lower pricing.
upgraded at Deutsche from Hold to Buy, Deutsche Bank said. $40 price target. Checks suggest that fundamentals are improving for MOCVD suppliers.
downgraded at Goldman from Neutral to Sell, Goldman Sachs said. $19 price target. Recent survey suggests that a potential recovery could take longer to materialize.
downgraded at Jefferies to Underperform from Hold, Jefferies said. $4 price target. Natural gas leverage is painful.
rated new Outperform at Credit Suisse. Company should see a rebound in hip and knee sales. Management is also likely to buy back more stock. $72 price target.
STOCK COMMENTS / EPS CHANGES
(AA - Get Report)
estimates lowered at USB through 2012, UBS said. Scheduled maintenance to impact upstream. Neutral rating and $11.25 price target.
target boosted at Piper. Shares of AAPL now seen reaching $718, according to Piper Jaffray. Company can continue to gain market share in mobile devices.