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CHANGE IN RATINGSArch Coal(ACI) was upgraded at BMO Capital from underperform to market perform. $8 price target. Met coal fundamentals appear to be improving, BMO said.
Alpha Natural(ANR) was upgraded at BMO from underperform to market perform. $8 price target. Estimates were also increased, given the company's new guidance, BMO said.
Arotech(ARTX) upgraded to hold at TheStreet Ratings.
First PacTrust Bancorp(BANC) upgraded to buy at TheStreet Ratings.
BB&T(BBT) was upgraded at Bank of America/Merrill Lynch to buy. Stock is attractive, following a 15% pullback, BofA/Merrill said. $32 price target.
Berry Plastics(BERY) was initiated with an outperform rating at Wells Fargo. Company offers innovative products and can pay down debt, Wells Fargo said.
Bristol-Myers Squibb(BMY - Get Report) was downgraded at BMO Capital to market perform from outperform. $37 price target. A number of pipeline setbacks this year, BMO Capital said.
Caterpillar(CAT - Get Report) was downgraded at JP Morgan from overweight to neutral. $90 price target. Company has high inventory levels and faces lower mining spending, JP Morgan said.
Comerica(CMA - Get Report) was upgraded at Citigroup from sell to neutral. $28 price target. Stock is down 11% over the past seven months, Citi said.
Disney(DIS - Get Report) was upgraded at Citi from neutral to buy. $54 price target. Recent acquisitions should boost future growth, Citi said.
Garmin(GRMN) was downgraded at Goldman Sachs from neutral to sell. $34 price target. Company is seeing lower demand for personal navigation and fitness devices, Goldman said.
Hibbett Sports(HIBB) was upgraded at Needham from hold to buy. Stock is down about 15% from its recent highs, Needham said. $61 price target.
JC Penney(JCP) was downgraded at Credit Suisse from neutral to underperform. $15 price target. Estimates were also cut, as management is struggling to turn the business around, Credit Suisse said.
Johnson & Johnson(JNJ) was downgraded at Jefferies to hold from buy. $75 price target. Easy money has been made, Jefferies said.
Merck(MRK) was upgraded at BMO Capital to outperform from market perform. $50 price target. Positive data from two early-stage products, BMO Capital said.
Nelnet(NNI) was upgraded at Credit Suisse from neutral to outperform. $33 price target. Estimates were also boosted, given loan purchases and higher realized net interest margin, Credit Suisse said.
NYSE Euronext(NYX) was upgraded at Stifel Nicolaus from hold to buy. $27 price target. Stock is attractively valued at a 52-week low, Stifel Nicolaus said.
Telephone & Data(TDS) was upgraded at Citigroup from neutral to buy. $27 price target. Management is selling assets while it is faced with with increased competition, Citi said.
Tripadvisor(TRIP) was upgraded at Morgan Stanley from underweight to overweight. $41 price target. Company is changing its monetization strategy and remains leveraged to higher hotel shopper growth, Morgan Stanley said.
US Cellular(USM) was upgraded at Citigroup from neutral to buy. $42 price target. Wireless asset purchase should be accretive to shareholder value, Citi said.
Vertex Pharmaceuticals(VRTX) was downgraded at Credit Suisse from outperform to neutral. $48 price target. Company will likely see lower Incivek sales, Credit Suisse said.
Western Union(WU) was upgraded at DA Davidson to neutral from underperform. $13 price target. At current prices, downside appears minimal, DA Davidson said.
STOCK COMMENTS / EPS CHANGES
Ameren(AEE) estimates, target reduced at UBS. AEE estimates were cut through 2013, UBS said. Company is seeing slower usage trends. Neutral rating and new $32 price target.
Citigroup(C) added to US 1 List at BofA/Merrill. C was placed on the US 1 list, Bank of America/Merrill Lynch said. The company trades at a discount to its peers, but its recovery is clearly on track. $45 price target.
Celgene(CELG) target raised at Jefferies to $94, Jefferies said. Abraxane shows survival benefit. Buy rating.
Generac Holdings(GNRC) numbers raised at BMO. Shares of GNRC now seen reaching $42, BMO said. Estimates also increased on recent storm caused demand. Outperform rating.
Heartware(HTWR) estimates, target cut at UBS. Shares of HTWR now seen reaching $100, according to UBS. Estimates also reduced, given slower international growth and expected adoption of HVAD. Buy rating.
Medivation(MDVN) numbers raised at Jefferies. Shares of MDVN now seen reaching $62, Jefferies said. Estimates also raised on Xtandi beat. Buy rating.
Pfizer(PFE) numbers lowered at Jefferies. Shares of PFE now seen reaching $27, Jefferies said. Estimates also lowered on revenue miss. Buy rating.
STRATEGY CALLS / MARKET CALLS
Technology and Media sectors downgraded at Wells from market-weight to underweight, Wells Fargo said. The Media sector was also cut from Overweight to Market-weight. Groups are leveraged to slower business spending.
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