NEW YORK (TheStreet) -- CHANGE IN RATINGS
Alcoa (AA) downgraded at Jefferies to Hold from Buy, Jefferies said. LME aluminum inventories are near record highs.
Abbott Laboratories (ABT) downgraded at Leerink to Market Perform, Leerink Swann said. Stock is up 30% since last October and appears fairly valued ahead of the upcoming business split.
Access Midstream Partners (ACMP) upgraded at Citigroup to Buy from Neutral, Citigroup said. $35 price target. Improved drop down visibility and counterparty risk profile.A.H. Belo Corporation (AHC) upgraded to hold at TheStreet Ratings. Albemarle Corporation (ALB) rated new Equal-weight at Morgan Stanley. More upside potential in other chemical "Big Ideas." Arrow Electronics (ARW) downgraded at Miller Tabak from Buy to Neutral, Miller Tabak said. $41 price target. Estimates also cut, given lower expected near-term demand. BCSB Bankcorp (BCSB) downgraded to hold at TheStreet Ratings. Bloomin Brands (BLMN) rated new Neutral at Deutsche. $16 price target. Company will struggle to receive a higher multiple. BMC Software (BMC) upgraded at Think Equity to Buy from Hold, Think said. $50 price target. ESM business has bottomed. Broadcom (BRCM) upgraded at RBC from Sector Perform to Outperform, RBC Capital said. $46 price target. Company has a solid product pipeline. Boston Scientific (BSX) downgraded at Leerink to Market Perform, Leerink Swann said. $6 price target. Company will struggle to grow in declining markets. Dover Corp (DOV) rated new Neutral at Citigroup. $64 price target. Still in transition with plenty of energy. Fairchild Semiconductor (FCS) downgraded at Miller Tabak from Buy to Neutral, Miller Tabak said. $16 price target. Company is leveraged to slower macro growth. Intel (INTC) downgraded at RBC from Outperform to Sector Perform, RBC Capital said. $24 price target. PC market faces near-term headwinds. Lamar Advertising (LAMR) upgraded at Goldman from Neutral to Buy, Goldman Sachs said. Company also placed on the Conviction List. $42 price target. Expect value from a likely REIT conversion. Manhattan Associates (MANH) upgraded at Think to Buy from Hold, ThinkEquity said. $67 price target. Steady IT spending trends. Molina Healthcare (MOH) downgraded at Jefferies to Underperform from Hold, Jefferies said. $19 price target. Poor execution. Marathon Petroleum (MPC) downgraded at Credit Suisse from Outperform to Neutral, Credit Suisse said. Valuation call, based on a $65 price target.
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