NEW YORK (TheStreet) -- CHANGE IN RATINGS:
Abbott Laboratories (ABT) was downgraded to hold at TheStreet Ratings.
Amgen (AMGN) was downgraded at Credit Suisse from outperform to neutral. $90 price target. Stock is already pricing in lower agency costs, Credit Suisse said.
Allegheny Technologies (ATI) was downgraded at J.P. Morgan from neutral to underweight. Estimates were also cut, given risks in the stainless steel market, J.P. Morgan said.Biomarin (BMRN) was upgraded at Stifel Nicolaus from hold to buy. $67 price target. New products should drive growth and the company is a potential acquisition target, Stifel Nicolaus said. Diamond Offshore (DO) was downgraded at Credit Suisse from outperform to neutral, Credit Suisse said. $77 price target. Company will be impacted by bifurcation in the deepwater market, Credit Suisse said. FirstEnergy (FE) was downgraded at Jefferies to underperform from hold. $33.50 price target. Rating agency pressure, Jefferies said. F5 Networks (FFIV) was downgraded at Needham from buy to hold. Consensus estimates appear high as growth could slow as the company transitions its product line, Needham said. Fortinet (FTNT) was downgraded at JMP Securities from outperform to market perform. Estimates were also cut, as the company is facing increased competition, JMP said. John Bean Technologies (JBT) was upgraded to buy at TheStreet Ratings. Johnson Controls (JCI) was downgraded at Lazard Capital Markets to neutral. Company faces macro growth headwinds, Lazard Capital Markets said. LinkedIn (LNKD) was initiated with a neutral rating at Sterne Agee. Valuation call, as the stock is up 67% of the past year, Sterne Agee. Och-Ziff (OZM) was downgraded to market perform at Keefe, Bruyette & Woods. $10.25 price target. Company faces potential growth headwinds, Keefe, Bruyette & Woods said. Precision Castparts (PCP) was upgraded at UBS to buy from neutral. $213 price target. Negative EPS revisions at end, UBS said. State Street (STT) was upgraded at J.P. Morgan to neutral. Company is cutting costs, offsetting a lower net interest margin, J.P. Morgan said. Wesco (WCC) was upgraded at Credit Suisse from neutral to outperform. $84 price target. Company is leveraged to a turn in the commercial construction market, Credit Suisse said. VCA Antech (WOOF) was downgraded at Stifel Nicolaus from hold to sell. Company may continue to lose market share in the lab business, Stifel Nicolaus said.
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