Duke Energy (DUK) was upgraded from Hold to Buy at Deutsche Bank with a $69 price target. Yield continues to look favorable in a low interest rate environment.
Exelis (ELS) was initiated with a Neutral rating and $12 price target at Credit Suisse. Sales will likely bottom out before its peers.
First Energy (FE) was downgraded from Buy to Hold at Deutsche Bank with a $43 price target. P/E ratio remains relatively high.HCA (HCA) was initiated with an Overweight rating at JP Morgan with a $39 price target. Company is leveraged to industry reform. Hewlett-Packard (HPQ) was downgraded to Sell at Topeka Capital with an $11.50 price target. Valuation call, as the stock is up 31% over the past month. Kansas City Southern (KSU) was downgraded from Outperform to Market Perform at FBR Capital Markets with a $75 price target. Company is leveraged to lower coal and grain demand. Raymond James Financial (RJF) was initiated with a Buy rating at Citigroup with a $44 price target. A B/D that doesn't need rising rates to work. Tenet Healthcare (TCH) was started with an Overweight rating and new $41 price target at JP Morgan. Company will likely buy back more stock. Trimble (TRMB) was downgraded to Neutral at Lazard. Company no longer trades at a discount to its peers. Tesla Motors (TSLA) was initiated with a Neutral rating at JP Morgan. Valuation call, based on a $37 price target. Woodward (WWD) was downgraded from Outperform to Neutral at Credit Suisse with a $39 price target. Organic growth is slowin and the company lacks near-term visibility.
STOCK COMMENTS / EPS CHANGESAxis Capital (AXS) estimates lowered through 2012 at UBS. Sandy loss larger than expected. Buy rating and $40 price target. ConAgra Foods (CAG) numbers raised at Citigroup. Shares of CAG now seen reaching $35, Citigroup said. Estimates also increased as volume trends improving. Buy rating. Carter's (CRI) numbers raised at Citigroup. Shares of CRI now seen reaching $64, Citigroup said. Estimates also increased as supply chain restructuring an underestimated catalyst for 2013. Buy rating. Halliburton (HAL) numbers lowered at Jefferies. Shares of HAL now seen reaching $42, Jefferies said. Estimates also lowered on North American conservatism. Buy rating. Principal Financial (PFG) was placed on the US 1 list at Bank of America/Merrill Lynch said. Company offers value with low earnings risk. Buy rating and $38 price target.
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