NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Cavium (CAVM) was downgraded at UBS to Neutral from Buy. $26 price target. Macro raises risks to growth, UBS said.Canadian Pacific (CP) was upgraded at Citigroup to Buy from Neutral. $90 price target. Proxy battle ends, turnaround begins, Citi said. Cypress (CY) was downgraded at UBS to Neutral from Buy. $13.75 price target. Less conviction on cycle strength and operating margins, UBS said. Gamestop (GME) was downgraded at Caris & Company from Buy to Average. $20 price target. Company is seeing lower store traffic, Caris & Company said. Hub Group (HUBG) was upgraded at Stifel Nicolaus from Hold to Buy. Valuation call, based on a $41 price target, Stifel Nicolaus said. Kansas City Southern (KSU) was upgraded at BMO Capital from Underperform to Neutral. Valuation call, as the stock is down 16% over the past two weeks, BMO Capital said. $68 price target. Eli Lilly (LLY - Get Report) was rated new Market Perform at BMO Capital. $37 price target. Company is facing multiple patent expiration cliffs, BMO Capital said. Merck (MRK - Get Report) was initiated with a Market Perform rating at BMO Capital. Valuation call, based on a $43 price target. Morgan Stanley (MS - Get Report) was upgraded at UBS to Buy from Neutral. $19 price target. Much of the downside seems priced in, with plenty of leverage to the upside, UBS said. Petrobras (PBR) was upgraded at Societe Generale to Buy from Neutral. $25 price target. Stock is attractively valued, following a 38% decline, Societe Generale said. Pepco Holdings (POM) was initiated with a Neutral rating at Citigroup. $19 price target. Overhang from several rate case proceedings, Citigroup said. Phillips 66 (PSX) was initiated with a Buy rating at UBS. $37 price target. Embedded logistics valuation at forefront, UBS said. Bankrate (RATE) was downgraded at Goldman Sachs from Buy to Neutral. Valuation call, based on a $25 price target, Goldman Sachs said.
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