NEW YORK ( TheStreet) -- CHANGE IN RATINGSApple (AAPL - Get Report) was initiated with a buy rating at Lazard. $540 price target. Company still has strong competitive advantages, Lazard Capital Markets said.
PremierWest Bancorp (PRWT) was upgraded to hold at TheStreet Ratings. Sykes Enterprises (SYKE) was upgraded to buy at TheStreet Ratings. United Bancorp (UBCP) was upgraded to buy at TheStreet Ratings. China Xiniya Fashion (XNY) was upgraded to hold at TheStreet Ratings. Yelp (YELP) was initiated as hold at TheStreet Ratings. Aruba Networks (ARUN) was downgraded to neutral at UBS. Given multiple expansion and stock performance, the current valuation is fair, said UBS. Brown & Brown (BRO) was upgraded from sell to neutral at Goldman. Company can continue to generate solid organic growth, Goldman Sachs said. $33 price target. Ulta Beauty (ULTA) was upgraded to buy at Jefferies. $100 price target. Stock is attractive, following a 20% pullback, Jefferies said. Avista (AVA) was downgraded to neutral at UBS based on valuation. Recent share price appreciation reflects recent successes in the rate case arena, said UBS. Centurylink (CTL) was upgraded from neutral to overweight at JP Morgan. $38 price target. Had a positive meeting with management and feel better about the long-term business outlook, JP Morgan said. Finisar (FNSR) was upgraded from neutral to buy at Lazard. $17 price target. Risk/reward is attractive at current levels, Lazard Capital Markets said.
STOCK COMMENTS/EPS CHANGES Acuity Brands (AYI) price target was raised to $83 as the North American market is expected to show improving business trends in the second half of the year, said UBS. Bed Bath & Beyond (BBBY) price target and earnings estimates were increased through 2014 at UBS. Q4 earnings will be in-line, but the online strategy will be the key to future success, said UBS. Price target goes to $64 Domino's Pizza (DPZ) was removed from the conviction buy list, according to Goldman Sachs. Valuation call, based on a $60 price target.