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CHANGE IN RATINGS
Accenture (ACN) was initiated with a buy rating at UBS. Based on bookings, revenues should see reacceleration, and EPS growth of 17% is expected in the second half of the year, UBS said. Price target is $85.
Actavis (ACT) was upgraded to buy at TheStreet Ratings.
Amazon (AMZN) was initiated with a neutral rating at UBS. The company's secular positioning is a positive, but operating costs remain a headwind given investment mode, UBS said. Price target is $275.
Sothebys (BID) was upgraded to buy at TheStreet Ratings.Buffalo Wild Wings (BWLD) was initiated with a neutral rating at Credit Suisse. $92 price target. Acquisitions add risk to the model, Credit Suisse said. CME Group (CME) was downgraded at Credit Suisse to neutral from outperform. Valuation call, Credit Suisse said. DaVita HCP (DVA) was upgraded at Deutsche Bank to buy from hold. $136 price target. Less concerned about HCP's year-over-year earnings trajectory, Deutsche said. eBay (EBAY) was upgraded at Topeka Capital Markets to buy from hold. $65 price target. Management should continue to execute on its growth strategy, Topeka Capital Markets said. EZCorp (EZPW) was downgraded at FBR Capital Markets to underperform from market perform. $17.50 price target. Company is highly leveraged to the U.S. and gold, FBR Capital Markets said. Facebook (FB) was initiated with a neutral rating at UBS. Monetization of mobile, a focus on protecting the user experience, and high investment needs will create a drag on performance in 2013, UBS said. Price target is $26. F5 Networks (FFIV) was upgraded at Robert Baird to outperform from neutral. Checks show better demand in traditional markets and security, Baird said. GNC Holdings (GNC) was upgraded at Deutsche Bank to buy from hold. $50 price target. Investor fear seems more than discounted into shares, Deutsche said. Groupon (GRPN) was initiated with a sell rating at UBS. Uncertainty about the business model, recent operating trends and changing management drive the cautious stance, UBS said. Price target is $4.40. Goldman Sachs (GS) was downgraded at Bank of America/Merrill Lynch to neutral from buy. Valuation call, based on a $155 price target, BofA/Merrill said.
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