NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Axiall Corporation (AXLL) was upgraded to buy at Citigroup. The PVC chain margin impact is likely higher than previously forecasted, said Citigroup. Earnings estimates were increased and the new price target is $69.
Cadence Design Systems (CDNS) was downgraded at D.A. Davidson to neutral. The announced acquisition of Tensilica has a steep price tag and will drain the company's net cash position, D.A. Davidson said.
Citizens Inc. (CIA) was downgraded to hold at TheStreet Ratings.Dick's Sporting Goods (DKS) was upgraded at BMO Capital Markets to outperform from market perform. $57 price target. Attractive entry point after correction, BMO Capital said. First Solar (FSLR) was upgraded at DNB Markets to hold from sell. $27 price target. Consensus expectations have pulled back, DNB Markets said. General Electric (GE) was downgraded at Nomura to neutral from buy. Valuation call, based on a $24 price target. InterOil Corp. (IOC) was upgraded to hold at TheStreet Ratings. Mosaic (MOS) was upgraded at BMO Capital Markets to outperform from market perform. $72 price target. Investors focused on future Phosphate outlook and buybacks, BMO Capital Markets said. Sherwin Williams (SHW) was upgraded at Credit Suisse to neutral. Fundamentals are expected to continue the positive trend and trump valuation, Credit Suisse said. Price target was increased to $175.
STOCK COMMENTS/EPS CHANGESApple (AAPL) price target and earnings estimates were reduced at Jefferies. Supplier channel checks indicate lower sales for the first quarter and that the iPhone 5S and low-cost iPhone launches could be pushed to the third quarter, Jefferies said. Price target is now $420. Franklin Resources (BEN) estimates were raised through 2014 at BMO Capital Markets. Better-than-expected flows qtd, BMO Capital Market said. $154 price target and Market Perform rating. Con-Way (CNW) earnings estimates and price target were increased at Citigroup. Earnings estimates for fiscal 2014 were increased. The company should retest peak margin levels, Citigroup said. Price target was increased to $42. Dick's Sporting Goods estimates were updated at Citigroup. Estimates through fiscal 2015 were reduced after the company reported fourth-quarter results, Citigroup said. The new estimates reflect lower first-quarter comps, higher planned SG&A and modestly lower gross profit margins, Citigroup added. Dicks Sporting Goods was added to the conviction buy list at Goldman Sachs. Same-store sales trends should recover, and a visable capital allocation plan will drive upside, Goldman said. The price target was reduced to $53.
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