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Analysts' Actions: AMZN, LLY, JPM, CIEN

Stocks in this article: AMZNANFLLYJPMCIENDEGETPETM

Eli Lilly (LLY) downgraded at Jefferies to Underperform from Hold, Jefferies said. $35 price target. Expect that solanezumab will fail its pivotal studies.

Noble Energy (NBL) upgraded at FBR from Market Perform to Outperform, FBR Capital Markets said. $120 price target. DJ Basin is not fully factored into the current price.

Annaly Capital (NLY) downgraded at Wells from Market Perform to Underperform, Wells Fargo said. Company will be hurt by a flatter yield curve.

Newell Rubbermaid (NWL) downgraded at Morgan Stanley from Overweight to Equal-weight, Morgan Stanley said. Macro risk should limit stock upside.

Petrologistics (PDH) upgraded at Citigroup to Buy from Neutral, Citigroup said. $12.75 price target. Propylene price expected to increase.

PetSmart (PETM) downgraded at Nomura from Buy to Neutral, Nomura said. Valuation call, based on a $70 price target.

Salix Pharmaceuticals (SLXP) downgraded at Cantor to Hold. $59 price target. Company is facing another pipeline setback with Relistor.

Salix Pharmaceuticals downgraded at ThinkEquity from Buy to Hold, ThinkEquity said. $53 price target. Company lacks potential catalysts for the next year.

Sandisk (SNDK) rated new Hold at Needham. Stock is already factoring in a NAND market rebound.

Domtar (UFS) upgraded at JP Morgan to Overweight from Neutral, JP Morgan said. Pulp remains tail that wags the dog.

STOCK COMMENTS / EPS CHANGES

Arch Coal (ACI) numbers raised at Credit Suisse. Shares of ACI now seen reaching $7, according to Credit Suisse. Estimates also increased, as the company is cutting costs. Neutral rating.

Allstate (ALL) estimates, target cut at Credit Suisse. Shares of ALL now seen reaching $38, according to Credit Suisse. Estimates also reduced, given lower auto insurance results. Outperform rating.

Amazon.com (AMZN) added to Conviction Buy List at Nomura. AMZN was placed on the Conviction Buy list, according to Nomura. Company continues to deliver strong sales growth. $285 price target.

Abercrombie & Fitch (ANF) estimates lowered at Piper through 2014, Piper Jaffray said. Store checks show higher clearance activity. Equal-weight rating.

AptarGroup (ATR) estimates, target lowered at Credit Suisse. Shares of ATR now seen reaching $52, according to Credit Suisse. Estimates also cut, given exposure to Europe and slower domestic growth. Neutral rating.

Concur Technologies (CNQR) target raised at Oppenheimer to $73, Oppenheimer said. Business momentum remains strong. Outperform rating.

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