NEW YORK (TheStreet) -- CHANGE IN RATINGS
Abbvie (ABBV) was upgraded at Morgan Stanley to overweight from equal-weight. $49 price target. Expect higher Humira sales and the company has a solid pipeline, Morgan Stanley said.
Barrick Gold (ABX) was downgraded at Deutsche Bank to hold from buy. $22.50 price target. Earnings will likely fall, along with the underlying price of gold, Deutsche Bank said.
Alkermes (ALKS) was downgraded at Lazard Capital Markets to neutral from buy. Valuation call, as the stock gained 25% last week, Lazard Capital Markets said.Baker Hughes (BHI) was downgraded at Argus Research to sell from hold. Accounts receivables and inventory have continued to deteriorate, Argus Research said. Carnival (CCL) was downgraded at Nomura to neutral from buy. $37.50 price target. Valuation call, as yield pricing remains soft, Nomura said.
Cabot Oil & Gas (COG) was initiated with a hold rating at Deutsche Bank. Valuation call, based on a $75 price target, Deutsche said. First Horizon (FHN) was upgraded at Compass Point to neutral from sell. $10 price target. Stock is already pricing in expected net interest margin compression, Compass Point said. General Electric (GE) was downgraded at J.P. Morgan to neutral. $22 price target. Company has less visibility and is losing its status as a safety stock, J.P. Morgan said.
Kimberly-Clark (KMB) was downgraded at Bank of America to neutral. Full valuation and outperformance vs. the sector, said Bank of America / Merrill Lynch. MDC (MDC) was upgraded at Credit Suisse to neutral from underperform. Checks show that industry demand remained strong through mid-April, Credit Suisse said. Newmont Mining (NEM) was downgraded at Deutsche Bank to sell from hold. $24 price target. Expect a funding gap in the sector, given lower commodity prices, Deutsche Bank said. Netflix (NFLX) was upgraded at B. Riley to neutral from sell. $165 price target. Stock has pulled back 17% over the past month, ahead of tonight's quarterly report, B. Riley said. Penn National (PENN) was downgraded at Morgan Stanley to equal-weight Valuation call, as the stock exceeded the previous target, Morgan Stanley said.
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