NEW YORK (TheStreet) -- CHANGE IN RATINGS
American International (AIG) was upgraded at Wells Fargo from Market Perform to Outperform. Company should become independent from the government over the next year, Wells Fargo said.
Amphenol (APH) was downgraded at Keybanc from Buy to Hold. Valuation call, Keybanc said.
Cummins (CMI) was initiated with a Neutral rating, Piper Jaffray said. Valuation call, based on a $129 price target, Piper Jaffray said.Dell (DELL) was upgraded at Morgan Stanley from Underweight to Equal-weight. Estimates were also boosted, following recent acquisitions, Morgan Stanley said. Deutsche Bank (DB) was upgraded to Hold at TheStreet Ratings. Fortune Brands Home (FBHS) was initiated with a Neutral rating at Credit Suisse. $22 price target. Margins are improving as spending rebounds, Credit Suisse said. Franklin Electric (FELE) was initiated with a Buy rating at Ladenburg Thalmann. $60 price target. Water demand is increasing in developing regions, Ladenburg Thalmann said. First Horizon (FHN) was downgraded at FBR Capital Markets from Market Perform to Underperform. $9 price target. Consensus earnings expectations appear too high, FBR said. Foster Wheeler (FWLT) was initiated with an Overweight rating at JP Morgan. Strong energy focus and technology-driven competitive advantages, JP Morgan said. Halozyme Therapeutics (HALO) was downgraded at Jefferies to Hold from Buy. Likely slow market uptake, Jefferies said. Harley-Davidson (HOG) was upgraded at Citigroup to Buy from Neutral. $55 price target. Retail trends should be encouraging to investors, Citi said. Jazz Pharmaceuticals (JAZZ) was initiated with a Buy rating at Citigroup. $60 price target. Xyrem is the key value driver in the near term, Citi said. Jacobs Engineering (JEC) was downgraded at JP Morgan from Overweight to Neutral. Valuation call, based on a $52.50 price target, JP Morgan said. KBR (KBR) was initiated with an Overweight rating at JP Morgan. $45 price target. Transition story already in progress, JP Morgan said. McDermott International (MDR) was initiated with a Neutral rating at JP Morgan. $14.50 price target. Upside potential is substantial, but so are the risks, JP Morgan said. Points International (PCOM) was upgraded to Buy at TheStreet Ratings. Stifel Financial (SF) was initiated with a Market Perform rating at Wells Fargo. Valuation call, as capital markets have failed to meaningfully recovered, Wells Fargo said. Salix (SXLP) was downgraded at Auriga USA to Hold. $51 price target. Stock is already pricing in potential approval of Relistor and Crofelemer, Auriga USA said.
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