NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Automatic Data Processing (ADP) downgraded at UBS to Neutral from Buy, UBS said. $59 price target. Full valuation, limited near term catalysts.
Albany Molecular Research (AMRI) upgraded to hold at TheStreet Ratings.
Approach Resources (AREX) upgraded at JP Morgan from Neutral to Overweight, JP Morgan said. Company can grow faster than its peers and trades at a relative discount.Anixter (AXE) downgraded at Credit Suisse from Neutral to Underperform, Credit Suisse said. $60 price target. Company is seeing lower datacom spending and industrial growth in Europe. BNY Mellon (BK - Get Report) rated new Buy at Citigroup. $27 price target. Valuation and expect FX litigation to dissipate some of risk premium. Cognex (CGNX) downgraded at Piper from Neutral to Underweight, Piper Jaffray said. $27 price target. Growth could be hurt my macro headwinds. DirecTV (DTV - Get Report) upgraded at Hudson Square from Hold to Buy, Hudson Square said. $60 price target. Fusion-IO (FIO) rated new Buy at Wunderlich. $38 price target. Company can continue to grow on its own or may eventually be acquired. Genomic Health (GHDX) rated new Outperform at Credit Suisse. $43 price target. Company can continue to gain market share. Impax Laboratories (IPXL) downgraded at ThinkEquity from Buy to Hold, ThinkEquity said. Valuation call, based on a $25 price target. Marriot International (MAR - Get Report) downgraded at KBW to Market Perform from Outperform, KBW said. $42 price target. Valuation and heightened economic concerns. Martin Marietta (MLM) downgraded at Keybanc from Buy to Hold, Keybanc said. Valuation call. Myriad Genetics (MYGN) rated new Neutral at Credit Suisse. $28 price target. Near and long term concerns overshadow underlying organic growth. Nokia (NOK) downgraded at BMO from Market Perform to Underperform, BMO Capital said. $2 price target. Do not expect new phones to gain much traction. Northern Trust (NTRS) rated new Neutral at Citigroup. $50 price target. Struggle to see upside from current price. Paychex (PAYX) downgraded at Citigroup to Sell from Neutral, Citigroup said. $30.50 price target. Modest growth can't support rich valuation. Paychex downgraded at UBS to Neutral from Buy, UBS said. $35 price target. Full valuation, challenging backdrop.