NEW YORK (TheStreet) -- CHANGE IN RATINGS
American Electric (AEP) upgraded at BofA/Merrill from Neutral to Buy, Bank of America/Merrill Lynch said. $46 price target. Estimates also boosted, given the company's new rate plan in Ohio.
Aflac (AFL) downgraded at FBR from Outperform to Market Perform, FBR Capital Markets said. Company has little margin to take future credit losses.
Cisco Systems (CSCO) upgraded at Piper from Neutral to Overweight, Piper Jaffray said. $22 price target. Expect solid near-term results and guidance.Forest Laboratories (FRX) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $37 price target. Hospira (HSP) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $38 price target. Int'l Flavors & Fragrances (IFF) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. Valuation call, based on a $65 price target. Interpublic (IPG) upgraded at Nomura from Neutral to Buy, Nomura said. Valuation call, based on a $13 price target. Allscripts (MDRX) upgraded at JP Morgan from Neutral to Overweight, JP Morgan said. Valuation call, based on a $15 price target. NetApp (NTAP) downgraded at Cantor from Buy to Hold, Cantor Fitzgerald said. Company can continue to struggle with enterprise demand. $38 price target. Priceline.com (PCLN) downgraded at Lazard from Buy to Neutral, Lazard said. Company is facing increased competition and Europe remains slow. PulteGroup (PHM) upgraded at JP Morgan to Overweight, JP Morgan said. $15 price target. Housing fundamentals should continue to improve over the next 18 months. PPL Corp (PPL) upgraded at UBS to Buy from Neutral, UBS said. $31 price target. Cost savings initiative. Select Medical (SEM) downgraded at UBS to Neutral from Buy, UBS said. $14 price target. Reducing rating following strong rally. Salix Pharmaceuticals (SLXP) upgraded at Cantor to Buy, Cantor Fitzgerald said. $60 price target. Estimates also upped, as the company is cutting costs. Toll Brothers (TOL) downgraded at JP Morgan to Underweight, JP Morgan said. Valuation call, based on a $30 price target. Trimble (TRMB) rated new Buy at Lazard. $58 price target.
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