Penske (PAG) downgraded at Sterne Agee from Buy to Neutral, Sterne Agee said. Valuation call, as the company is facing tougher comps.
Qualcomm (QCOM) downgraded at DA Davidson from Buy to Neutral, DA Davidson said. $65 price target. Growth may decelerate in 2013.
Qlik Technologies (QLIK) upgraded at UBS to Buy from Neutral, UBS said. $28 price target. Favorable risk/reward ratio.
Ralph Lauren (RL) upgraded at Piper from Neutral to Overweight, Piper Jaffray said. $182 price target. Refined classics fashion should attract customers.SAIC (SAI) downgraded at Lazard from Buy to Neutral, Lazard said. $16 price target. Company lacks near-term catalysts, following a surprise contract loss. Shutterfly (SFLY) upgraded at Cantor from Hold to Buy, Cantor Fitzgerald said. $33 price target. Stock has pulled back 16%, but fundamentals remain sound. Tyco (TYC) downgraded at Credit Suisse from Outperform to Neutral, Credit Suisse said. Stock is already pricing in margin growth and some takeover potential. $30 price target. US Bancorp (USB) downgraded at BofA/Merrill from Buy to Neutral, Bank of America said. Valuation call, based on a $35 price target. Wabco (WBC) downgraded at Baird from Outperform to Neutral, Robert Baird said. $59 price target. Company is leveraged to slower industry growth and may struggle to achieve 2013 estimates.
STOCK COMMENTS / EPS CHANGESContinental Resources (CLR) target raised at Jefferies to $91, Jefferies said. Amplified reasons to favor the Bakken. Buy rating. Cummins (CMI) estimates, target cut at Credit Suisse. Shares of CMI now seen reaching $110, according to Credit Suisse. Estimates also reduced, given the company's new guidance. Outperform rating. Cummins numbers lowered at Jefferies. Shares of CMI now seen reaching $100, Jefferies said. Estimates also lowered on expectation take down. Buy rating. Chevron (CVX) estimates cut at UBS through 2013, UBS said. Disappointing 3Q across the board. Buy rating and $125 price target. Cytec (CYT) numbers lowered at Jefferies. Shares of CYT now seen reaching $71, Jefferies said. Estimates also lowered on accelerated buyback plan. Hold rating. ESCO Technologies (ESE) numbers lowered at Oppenheimer. Shares of ESE now seen reaching $42, Oppenheimer said. Estimates also lowered on pre-announcement. Outperform rating. Intel (INTC) target reduced at MKM to $27, according to MKM Partners. Earnings will likely remain depressed in the near term. Buy rating. Tiffany & Co (TIF) target raised at UBS to $82, UBS said. Lower diamond costs should drive margin upside. >To submit a news tip, email: email@example.com.
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