Analysts' Actions: CHK, FL, NKE, RVBD

NEW YORK (TheStreet) -- CHANGE IN RATINGS



Altera (ALTR) was downgraded at Citigroup to Neutral from Buy with a $38.50 price target. Reporting/guiding below expectations, Citigroup said.

Acuity Brands (AYI) rated new Hold at Stifel Nicolaus. Valuation call.

Bank of New York Mellon (BK) was upgraded to Buy at TheStreet Ratings.

Brown & Brown (BRO) was upgraded from Neutral to Overweight at JP Morgan. Organic growth appears to have reached an inflection point, JP Morgan said. $30 price target.

Chesapeake Energy (CHK) was downgraded from Outperform to Market Perform at Wells Fargo. Company continues to struggle with lower natural gas prices, Wells Fargo said.

First Horizon (FHN) was downgraded from Outperform to Market Perform at Wells Fargo. Estimates also cut, given flat loan growth and margin compression.

Foot Locker (FL) was initiated with a Hold rating at Benchmark. Valuation call, based on a $35 price target.

Kinder Morgan (KMI)Coverage was initiated with a Sell rating at TheStreet Ratings.

Marsh & McLennan (MMC) was downgraded from Neutral to Underweight, JP Morgan said. Company lacks near-term catalysts. $32 price target.

Navigators Group (NAVG) was downgraded to Hold at TheStreet Ratings.

New Jersey Resources (NJR) was upgraded from Hold to Buy at Brean Murray with a $49 price target. Recent pullback has created a buying opportunity, Brean Murray said.

Nike (NKE) coverage was started with a Buy rating at Benchmark, with a $128 price target. Company is leveraged to a busy sporting calendar.

ONEOK (OKE) was upgraded to Buy from Neutral at UBS with a $94 price target. Dominant midstream provider in the Midcontinent and Rockies regions.

Riverbed (RVBD) downgraded was downgraded from Buy to Hold at Cantor Fitzgerald with a $27 price target. Company faces transitions in multiple areas.

Riverbed (RVBD) downgraded at JP Morgan to Neutral. Company faces channel execution issues.

Riverbed (RVBD) was downgraded from Outperform to Neutral at Wedbush with a $23 price target. Company faces execution challenges, Wedbush said.

Riverbed (RVBD) was downgraded to Perform from Outperform at Oppenheimer. Maneuvering through much more than just a product cycle, Oppenheimer said.

Boston Beer (SAM) was initiated with a Neutral rating at UBS, with a $103 price target. Limited upside at current multiple, UBS said.

Sandisk (SNDK) was downgraded from Overweight to Neutral at Piper Jaffray with a $35 price target. Estimates also slashed, given pricing headwinds.

Sandisk (SNKD) was downgraded from Buy to Hold at Deutsche Bank with a $35 price target. Company appears to be focused on the wrong customers in the wrong markets.

Transdigm (TDG) was upgraded from Neutral to Buy at Goldman Sachs with a $144 price target. Company has the best margins in the industry.

STOCK COMMENTS / EPS CHANGES

Alliance Data (ADS) numbers raised at Credit Suisse. Shares of ADS now seen reaching $150, according to Credit Suisse. Estimates also increased, given the company's new guidance. Outperform rating.

Advanced Micro Devices (AMD) numbers raised at Jefferies. Shares of AMD now seen reaching $11, Jefferies said. Estimates also raised on better revenues and margins. Buy rating.

Advanced Micro (AMD) numbers boosted at Credit Suisse. Shares of AMD now seen reaching $8, according to Credit Suisse. Company continues to do well in the computer market. Neutral rating.

Advanced Micro Devices (AMD) target raised at Citigroup. AMD price target increased to $12, Citigroup said. Notebook momentum evident. Buy rating.

BB&T (BBT) estimates increased through 2013, UBS said. Results above expectations on positive fee revenues. Buy rating and $34 price target.

BB&T (BBT) estimates, target raised at Morgan Stanley. Shares of BBT now seen reaching $35, according to Morgan Stanley. Estimates also increased, given stronger mortgage banking results and cost cutting. Overweight rating.

Cabela's (CAB) estimates, target raised at Credit Suisse. Shares of CAB now seen reaching $43, according to Credit Suisse. Estimates also increased, as higher sales are driving wider margins. Neutral rating.

Chubb (CB) estimates, target boosted at Credit Suisse. Shares of CB now seen reaching $76, according to Credit Suisse. Estimates also upped, as the company can continue to expand margins. Outperform rating.

Cepheid (CPHD) estimates, target cut at Credit Suisse. Shares of CPHD now seen reaching $45, according to Credit Suisse. Estimates also reduced, as costs remain high. Outperform rating.

Fairchild Semiconductor (FCS) numbers increased at Credit Suisse. FCS estimates were raised through 2013, Credit Suisse said. Company is seeing higher automotive demand. Underperform rating and new $15 price target.

First Horizon (FHN) numbers cut at Credit Suisse. FHN estimates were reduced through 2014, Credit Suisse said. Company is seeing lower loan growth and net interest margin. Outperform rating and new $11 price target.

Hubbell (HUB.B) numbers raised at Oppenheimer. Shares of HUB.B now seen reaching $85, Oppenheimer said. Estimates also raised on a pick up in capital deployments. Outperform rating.

Microsoft (MSFT) estimates, target increased at BofA/Merrill. MSFT estimates were raised through 2014, Bank of America/Merrill Lynch said. Company is seeing better growth across the board. Buy rating and new $36 price target.

Microsoft (MSFT) numbers raised at UBS. Shares of MSFT now seen reaching $37, according to UBS. Estimates also increased on surprising $600 million from strong enterprise demand. Buy rating.

Nucor (NUE) estimates, target reduced at Credit Suisse. Shares of NUE now seen reaching $52, according to Credit Suisse. Estimates also cut, given the company's new guidance. Outperform rating.

Penn National (PENN) numbers increased at Morgan Stanley. PENN estimates were raised through 2013, Morgan Stanley said. Company is an industry leader and Ohio should be the next growth driver. Overweight rating and new $53 price target.

Philip Morris (PM) numbers upped at Morgan Stanley. PM estimates were boosted through 2014, Morgan Stanley said. Company is seeing higher organic sales growth. Overweight rating and new $90 price target.

PPG Industries (PPG) numbers upped at Credit Suisse. PPG estimates were boosted through 2013, Credit Suisse said. Business segments are performing well and the company is keeping a tight lid on costs. Neutral rating and new $120 price target.

Riverbed Technology (RVBD) numbers cut at UBS. Shares of RVBD now seen reaching $23, according to UBS. Estimates also lowered as new products are growing, but causing sales force productivity losses. Neutral rating.

Sandisk (SNDK) estimates, target reduced at JMP Securities. Shares of SNDK now seen reaching $45, according to JMP Securities. Estimates also cut, given higher supply in the NAND industry. Outperform rating.

Stanley Black & Decker (SWK) numbers reduced at Morgan Stanley. Shares of SWK now seen reaching $75, according to Morgan Stanley. Estimates also cut, as the company has yet to improve margins. Equal-weight rating.

Tempur-Pedic (TPX) numbers lowered at Oppenheimer. Shares of TPX now seen reaching $90, Oppenheimer said. Estimates also lowered on mixed first quarter results. Outperform rating.

UnitedHealth (UNH) estimates, target boosted at Morgan Stanley. Shares of UNH now seen reaching $70, according to Morgan Stanley. Estimates also upped, as the company is seeing solid sales growth across the board and buying back more shares. Overweight rating. Yum! (YUM) Brands numbers raised at UBS. Shares of YUM now seen reaching $81, according to UBS. Estimates also increased on strong quarterly results. Buy rating.

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This article was written by a staff member of TheStreet.