NEW YORK (TheStreet) -- CHANGE IN RATINGS
Barrick Gold (ABX) was downgraded at J.P. Morgan to neutral from overweight. Uncertainty persists around the Pascua Lama project, J.P. Morgan said.
Arch Coal (ACI) was downgraded at Citigroup to neutral from buy. $6 price target. Company is leveraged to lower met coal demand, Citi said.
Alpha Natural (ANR) was downgraded at Citigroup to neutral from buy. $9 price target. Estimates also cut, given a lower coal outlook, Citi said.Ball (BLL) was downgraded at Bank of America/Merrill Lynch to neutral from buy. Valuation call, based on a $49 price target, BofA/Merrill said. Chipotle Mexican Grill (CMG) was upgraded at Wedbush to outperform from neutral. $400 price target. Company can exceed near-term expectations, Wedbush said.
Chipotle was upgraded at UBS to buy from neutral. $390 price target. Estimates also boosted as profit growth should accelerate, UBS said. Freeport-McMoran (FCX) was downgraded at Citigroup to sell. $25 price target. Company will be hurt by lower copper prices, Citi said. Google (GOOG) was initiated with a buy rating at Topeka. $950 price target. Underappreciated next leg of long-term growth -- voice search, Topeka said. WR Grace (GRA) was initiated with an outperform rating at Credit Suisse. $91 price target. Portfolio is strong, and the company can continue to generate free cash flow, Credit Suisse said.
Kansas City Southern (KSU) was downgraded to neutral from buy at Bank of America/Merrill Lynch. $113 price target. Valuation call, BofA/Merrill said. Opentable (OPEN) was downgraded at J.P. Morgan to neutral from overweight. Company is seeing better conversions and improved trends in the U.K., J.P. Morgan said. Patterson Dental (PDCO) was upgraded at ISI Group to cautious from sell. Valuation call, based on a $35 price target, ISI said. Restoration Hardware (RH) was initiated with an outperform rating at Wells Fargo. New strategy can unlock value, and the stock can move up toward $40 to $42, Wells Fargo. Sherwin-Williams (SHW) was upgraded at Nomura to buy. $200 price target. Company has earnings power of $15 a share, Nomura said.
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