NEW YORK (TheStreet) -- CHANGE IN RATINGS:
Alon USA (ALJ) was downgraded at Goldman Sachs from buy to neutral. Valuation call, as the stock is up more than 33% since late December, Goldman said. $21 price target.
Associated Banc-Corp (ASBC) was downgraded at Oppenheimer to perform from outperform. Market has recognized turnaround, Oppenheimer said.
Associated Banc-Corp was upgraded at Morgan Stanley to equal-weight. $14 price target. Management is turning the business around, Morgan Stanley said.AvalonBay Communities (AVB) was downgraded at Jefferies to hold from buy. $135 price target. 2013 outlook disappointment, Jefferies said. Armstrong World (AWI) was upgraded at Barclays from equal-weight to overweight. $64 price target. Company will continue to benefit from a housing shortage, Barclays said. Bed Bath & Beyond (BBBY) was upgraded at Citigroup to buy from neutral. $67 price target. Compelling valuation and improving differentiation, Citigroup said. BB&T (BBT) was upgraded at Guggenheim from neutral to buy. $38 price target. Company will likely raise its dividend in the near term, Guggenheim said. Baidu (BIDU) was downgraded at Stifel Nicolaus from buy to hold. Company is spending more to invest in online video and mobile internet, Stifel said. Bank of NY Mellon (BK) was downgraded at Guggenheim from buy to neutral. Valuation call, based on a $28 price target, Guggenheim said. Cullen/Frost Bankers (CFR) was upgraded at Oppenheimer to outperform from perform. $68 price target. Loan growth is beginning to accelerate, Oppenheimer said. CIT Group (CIT) was downgraded at Nomura from buy to neutral. $45 price target. Valuation call, as the stock is up 16% over the past two months, Nomura said. Clearwire (CLWR) was downgraded at DA Davidson from neutral to underperform. DISH deal will likely not go through, DA Davidson said. $2.97 price target. DR Horton (DHI) was upgraded at Barclays from equal-weight to overweight. $27 price target. Expect better credit availability to drive demand for entry-level homes, Barclays said. Bottomline (EPAY) was downgraded at Craig-Hallum from buy to hold. Valuation call, based on a $29 price target, Craig-Hallum said. Equity Residential (EQR) was downgraded at Jefferies to hold from buy. $58 price target. Negative read-through from AVB results, Jefferies said.
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