NEW YORK (TheStreet) -- CHANGE IN RATINGS
Adtran (ADTN) downgraded at BofA/Merrill to Underperform, Bank of America/Merrill Lynch said. $15 price target. Company is seeing lower domestic spending and facing increased regulatory pressure.
Atwood Oceanics (ATW) upgraded at Guggenheim from Neutral to Buy, Guggenheim said. $57 price target. Company continues to reinvest free cash flow back into its fleet.
Cameron (CAM) rated new Buy at Lazard. $69 price target. Copany has good visibility and should deliver solid offshore growth.Devon Energy (DVN) rated new Outperform at Credit Suisse. $74 price target. Oil sands projects should help drive near-term growth. FMC (FMC) downgraded at BofA/Merrill to Neutral, Bank of America/Merrill Lynch said. Valuation call, based on a $59 price target. FMC Technologies rated new Buy at Lazard. $60 price target. Company can continue to deliver record subsea results. Pfizer (PFE) rated new Outperform at BMO. $30 price target. Company offers stability in uncertain times. Plains Exploration (PXP) rated new Neutral at Credit Suisse. Valuation call, based on a $45 price target. United Technologies (UTX) downgraded at Oppenheimer to Perform from Outperform, Oppenheimer said. Not sure margin expansion is possible in 2013.
STOCK COMMENTS / EPS CHANGESAccenture (ACN) estimates, target upped at Credit Suisse. ACN estimates were boosted through 2015, Credit Suisse said. Company is seeing higher bookings and buying back stock. Neutral rating and new $70 price target. Accenture target raised at Jefferies. Shares of ACN now seen reaching $66, Jefferies said. Solid quarter and outlook. Hold rating. Caterpillar (CAT) estimates trimmed at Citigroup through 2013, Citigroup said. Slower global growth, beyond mining. $92 price target and Neutral rating. Cepheid (CPHD) estimates, target cut at Credit Suisse. Shares of CPHD now seen reaching $41, according to Credit Suisse. Estimates also reduced, as growth is decelerating. Outperform rating. Cisco Systems (CSCO) estimates increased at Morgan Stanley through 2014, Morgan Stanley said. Checks show that domestic demand continues to improve. Overweight rating and $22 price target. DuPont (DD) estimates cut at UBS through 2012, UBS said. Coatings segment earnings now treated as discontinued operations. Neutral rating and $55 price target.
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