NEW YORK (TheStreet) -- CHANGE IN RATINGS
Brocade (BRCD) was upgraded at Pacific Crest to Sector Perform. CEO resignation increases the chances of a takeover or company breakup, Pacific Crest said.
Cerner (CERN) was downgraded at Morgan Stanley from Overweight to Equal-Weight. Bookings growth could slow down in the coming quarters, Morgan Stanley said.
Cabot Oil & Gas (COG) was upgraded at JP Morgan from Neutral to Overweight. $54.50 price target. Company can grow faster than its peers over the coming quarters, JP Morgan said.Cymer (CYMI) was initiated with a Hold rating at Deutsche Bank. Valuation call, based on a $58 price target, Deutsche Bank said. McKesson (MCK) was downgraded at Morgan Stanley from Overweight to Equal-Weight. Company is seeing fewer new exclusive generics, Morgan Stanley said. Molycorp (MCP) was downgraded from Buy to Hold at Dahlman Rose. Estimates were also cut, following the recent bond offering, Dahlman Rose said. Walgreen (WAG) was upgraded at Morgan Stanley from Underweight to Equal-Weight. ESRX overhang has been removed, but European risks remain. Morgan Stanley said. Wellpoint (WLP) was downgraded at Morgan Stanley from Overweight to Equal-Weight. Company continues to disappoint with execution, Morgan Stanley said.
STOCK COMMENTS / EPS CHANGESAgilent Technologies (A) numbers were cut at Citigroup. Shares are now seen reaching $47. Estimates were also lowered as macro issues lead weak results, Citi said. Buy rating. Aeropostale (ARO) estimates were lowered at UBS through 2014. Expect continued margin pressure and share repos likely minimal NT, UBS said. Neutral rating and $14 price target. Aeropostale estimates, target reduced at Brean Murray. Estimates were cut through 2014. Company lowered its guidance again, Brean Murray said. Buy rating and nwe $18 price target. Brocade numbers were raised at BMO Capital Markets. Shares are now senn reaching $7. Estimates were also increased on modest increase in revenues and operating margins, BMO said. Market Perform rating. FedEx (FDX) estimates, target cut were at Goldman Sachs. Estimates were reduced through 2015. Company should see slower volume growth, Goldman said. Buy rating and new $101 price target. Gap (GPS) numbers were raised at UBS. Shares of GPS are now seen reaching $35. Estimates were also increased on improved execution, UBS said. Neutral rating.
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