NEW YORK ( TheStreet) -- CHANGE IN RATINGS:
Abbott Laboratories (ABT) was downgraded at Deutsche Bank from buy to hold. Valuation call, based on a $33 price target, Deutsche said.
Aruba Networks (ARUN) was upgraded at Stifel Nicolaus from hold to buy. $27 price target. Growth could re-accelerate in 2013, Stifel Nicolaus said.
The Bank of New York Mellon (BK) was downgraded at Citigroup to neutral from buy. Valuation call, Citi said.BancorpSouth (BXS) was downgraded at Keefe, Bruyette & Woods from market perform to underperform. Valuation call, based on a $12 price target, KBW said. Cardinal Health (CAH) was upgraded at Mizuho from neutral to buy. $46 price target. Company will likely renew two major contracts in 2013, Mizuho said. Continental Resources (CLR) was initiated with a buy rating at Deutsche Bank. $94 price target. Solid Bakken position can continue to drive growth, Deutsche said. Cepheid (CPHD) was downgraded at Piper Jaffray from overweight to neutral. $34 price target. See further downside potential to near-term results, Piper Jaffray said. Endo Pharmaceuticals (ENDP) was downgraded at Piper Jaffray from overweight to neutral. Opana ER is facing generic competition, Piper Jaffray said. $28 price target. Esco Technologies (ESE) was upgraded at Robert Baird from neutral to outperform. $52 price target. Company should see higher orders in the near term, Robert Baird said. Edwards Lifesciences (EW) was initiated with a market perform rating at JMP Securities. Company trades at a premium to its peers but has limited upside earnings potential, JMP said. East West Bancorp (EWBC) was upgraded at Sterne Agee to buy from neutral. $26 price target. Earnings power from expense management, Sterne Agee said. FactSet Research Systems (FDS) was initiated at Goldman Sachs with a sell rating. $79 price target. Slowing growth and emerging competition, Goldman said. Freescale (FSL) was downgraded at JP Morgan to neutral. Company could see lower demand and lacks near-term catalysts, JP Morgan said. Illumina (ILMN) was upgraded at Piper Jaffray from neutral to overweight. $61 price target. Company can continue to gain market share in next-generation sequencing, Piper Jaffray said. Johnson & Johnson (JNJ) was upgraded at Deutsche Bank to buy. $82 price target. Company has a diversified business and deserves to trade at a premium valuation, Deutsche said.
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