NEW YORK ( TheStreet) -- CHANGE IN RATINGS:
Air T (AIRT) upgraded to buy at TheStreet Ratings.
Franklin Resources (BEN) was upgraded at Keefe, Bruyette & Woods from market perform to outperform. Valuation call, based on a $160 price target, KBW said.
Columbia Sportswear (COLM) was downgraded at Citigroup to sell from neutral. $45 price target. Changing environment and negative upcoming catalysts, Citi said.Copart (CPRT) was downgraded at Baird from outperform to neutral. Valuation call, based on a $36 price target, Baird said. Chevron (CVX) was downgraded at UBS to neutral from buy. $120 price target. Valuation call, UBS said. Essex Property Trust (ESS) upgraded to buy at TheStreet Ratings. Google (GOOG) was downgraded at BMO Capital to market perform. $790 price target. Valuation call, as the stock is up 39% since mid-June, BMO Capital said. Hershey (HSY) was downgraded at Goldman Sachs from buy to neutral. Valuation call, based on an $86 price target. Company was also cut from the Conviction Buy list, Goldman said. Mead Johnson (MJN) was upgraded at Goldman Sachs from neutral to buy. Company was also placed on the Conviction List. $95 price target. Company should see a material growth rebound in China, Goldman said. Melco Crown Entertainment (MPEL) was upgraded at Jefferies to hold from underperform. $22.70 price target. Solid premium mas growth momentum, Jefferies said. Merck (MPEL) was downgraded at Morgan Stanley from equal-weight to underweight. Company may see near-term weakness in its clinical portfolio, Morgan Stanley said. Merck (MRK) was downgraded at Leerink Swann from outperform to market perform.Company lacks near-term catalysts, Leerink Swann said. Norfolk Southern (NSC) was upgraded at Dahlman Rose from hold to buy. $82 price target. Company is leveraged to higher met coal pricing, Dahlman Rose said. Perrigo (PRGO) was upgraded at Morgan Stanley from equal-weight to overweight. $125 price target. Nutritionals overhang has been lifted and the company has strong growth prospects, Morgan Stanley said. Perrigo was upgraded at Canaccord from hold to buy. $128 price target. Company trades at a discount valuation and can deliver higher near-term earnings, Canaccord said. Charles Schwab (SCHW) was downgraded at UBS to neutral from buy. $17 price target. Too much enthusiasm in valuation, UBS said.
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