NEW YORK (TheStreet) -- CHANGE IN RATINGS
AK Steel (AKS) was downgraded to sell from neutral at Citigroup. $3.50 price target. Deterioration in modeled negative free cash flow outlook, Citi said.
ON Assignment (ASGN) was initiated with a buy rating at Bank of America/Merrill Lynch. $24 price target. Company can grow much faster than the industry, BofA/Merrill said.
Aerosonic (ATML) was downgraded to hold at TheStreet Ratings.Atmel (ATML) was downgraded at UBS to neutral from buy. $7 price target. Samsung, Windows 8 opps more limited, UBS said. Baxter (BAX) was downgraded at Deutsche Bank from buy to hold. $63 price target. Stock is already pricing in a positive analyst meeting, Deutsche said. Big Lots (BIG) was downgraded to hold at TheStreet Ratings. Peabody Energy (BTU) was downgraded from buy to underperform at Bank of America/Merrill Lynch. Met coal supply is outpacing demand. $22 price target, BofA/Merrill said. Carnival (CCL) was downgraded at Topeka Capital from buy to hold. $38 price target. Stock is up 8% over the past month, but the company could announce disappointing earnings this week, Topeka Capital said. Cooper Tire (CTB) was upgraded at Deutsche Bank from hold to buy. $24 price target. Company should perform better after tariffs expire, Deutsche said. Citrix Systems (CTXS) was downgraded at Morgan Stanley to equal-weight. Stock is up 34% year to date, but growth tailwinds will fade in 2013, Morgan Stanley said. Darden (DRI) was downgraded at JP Morgan from overweight to neutral. Valuation call, based on a $63 price target, JP Morgan said. First Horizon (FHN) was downgraded at Compass Point from neutral to sell. Valuation call, based on a $9 price target, Compass Point said. Lamar Advertising (LAMR) was upgraded at Morgan Stanley to Overweight. $46 price target. REIT conversion should help the company unlock value, Morgan Stanley said. Lamar Advertising was upgraded at Wells to outperform. Company will likely cut capital spending under a REIT structure, Wells said. Packaging Corp. (PKG) was upgraded at BMO from market perform to outperform. $38 price target. Company is leveraged to higher linerboard prices, BMO said. PVH (PVH) was upgraded from neutral to overweight, Piper Jaffray said. $109 price target. Estimates were also boosted, as the company can gain market share across the globe.
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