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CHANGE IN RATINGSAutozone(AZO) was upgraded at Credit Suisse to Outperform. Valuation call, based on a $440 price target, Credit Suisse said.
Bristol-Myers(BMY - Get Report) was initiated with an Outperform rating at BMO Capital. $39 price target. Company's growth potential is underestimated by the market, BMO Capital said.
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.