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Analysts' Actions: BMY GPS KORS MRK SCHW


Bristol-Myers (BMY - Get Report) was downgraded to neutral at Bank of America/Merrill Lynch. The upside potential does not justify a buy rating, though the dividend yield and pipeline are attractive, BofA/Merrill said. Estimates through 2014 were increased, price target is $39.

Cloud Peak Energy (CLD) was upgraded at Goldman Sachs to buy. The company should benefit from rising PRB coal/natural gas prices, Goldman said. Price target is now $21.

Consol Energy (CNX) was downgraded at Goldman Sachs to neutral. Still see positive catalysts, but believe that others have more upside, Goldman said. Price target is now $36.

Cyberonics (CYBX) was upgraded at Lazard Capital Markets to buy. A proprietary survey showed that sales reps were not using inappropriate sales tactics, making the recent pullback a buying opportunity, Lazard Capital Markets said. Estimates through 2014 were raised, $57 price target.

Dean Foods (DF) was upgraded at KeyBanc to buy. The company's structural transition to a fluid milk pure play will drive cost savings that aren't currently realized in the stock price, KeyBanc said. Price target is $21.

Exlservice (EXLS) was downgraded at Needham from buy to hold. Company is facing increased competition, Needham said.

Fifth & Pacific (FNP) was initiated with a buy rating at Sterne Agee. The company is the top specialty retailer pick given growth prospects and misunderstood fundamentals, Sterne Agee said. Price target is $26.

Foster Wheeler (FWLT) was downgraded at Stifel Nicolaus from buy to hold. Company faces growth headwinds and lacks potential near-term catalysts, Stifel Nicolaus said.

Gap (GPS - Get Report) was initiated with a sell rating at Sterne Agee. Structural headwinds, including tough compares and inventory levels, will weigh on margins, Sterne Agee said. Price target is $29.

Michael Kors (KORS - Get Report) was initiated with a neutral rating at Sterne Agee. Margins at the company could be nearing the end of the runway, Sterne Agee said. Price target is $63.

McDermott (MDR) was downgraded at KeyBanc to hold. The company's cost position as it transitions to deep-water work is a concern, KeyBanc said. There is a risk to margins and stimates were lowered through 2014, Keybanc added.

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BMY $65.80 -0.30%
GPS $40.86 -0.87%
KORS $63.48 0.22%
MRK $57.60 0.16%
SCHW $30.12 -1.25%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

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