Iconix Brand Group (ICON) was downgraded at Citigroup to neutral from buy. $25 price target. Buffalo acquisition nice, but pricey, Citigroup said.
Invesco (BBT) was downgraded at BMO Capital from outperform to market perform. Valuation call, based on a $29 price target, BMO said.
Kohl's (KSS) was downgraded at Citigroup to neutral from buy. $50 price target. Difficult turnaround attempt, Citi said.
Life Technologies (LIFE) was downgraded at Leerink Swann from outperform to market perform. Taking a cautious view on the next-generation sequencing business, and the stock has made a big run, Leerink Swann said.Legg Mason (LM) was downgraded at BMO Capital from market perform to underperform. $26 price target. Company is not positioned well to participate in a reflection toward equities, BMO Capital said. Macy's (BBT) was upgraded at Citigroup to buy from neutral. $46 price target. Benficiary of a stronger housing market, Citigroup said. National Oilwell (NOV) was downgraded at Bernstein Research from outperform to market perform. $80 price target. Backlog will likely soon peak, Bernstein Research said. National Oilwell Varco was downgraded at Bernstein to market perform from outperform. $80 price target. Expectations that backlogs will soon peak, Bernstein said. New York Community Bancorp (NYCB) was upgraded at Morgan Stanley to overweight. $15 price target. Company restructured its debt, and net interest margin is holding up better than expected, Morgan Stanley said. PulteGroup (PHM) was downgraded at Barclays from overweight to equal-weight. $21 price target. New-home prices will likely flatten out, Barclays said. Realogy (RLGY) was downgraded at Barclays from overweight to equal-weight. Valuation call, based on a $46 price target, Barclays said. Sandridge (SD) was downgraded at J.P. Morgan from overweight to underweight. $5 price target. Company faces a potential financial crunch, J.P. Morgan said. State Street (STT) was downgraded at Guggenheim from buy to neutral. $63 price target. Valuation call, as the stock is up 32% since the fall, Guggenheim said. Constellation Brands (STZ) was downgraded at Stifel Nicolaus from buy to hold. DOJ suit adds risk to the story. Stillwater Mining (SWC) was upgraded at J.P. Morgan from neutral to overweight. $19 price target. Company is leveraged to rising palladium prices, J.P. Morgan said. Stryker (SYK) was downgraded at UBS to neutral from buy. Reasonably valued and strong recent move, UBS said. Target (TGT) was upgraded at Citigroup to buy from neutral. $72 price target. Well-positioned to gain market share through the new Threshold line, Citi said. Toll Brothers (TOL) was downgraded at Barclays to underweight from equal-weight. $36 price target. Expect a shift toward more entry-level home buyers, Barclays said.
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