NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Cliffs Natural (CLF - Get Report) was upgraded at FBR Capital Markets to outperform from market perform. $28 price target. Company is cutting costs, and China may begin importing more iron ore, FBR Capital Markets said.
Fifth & Pacific (FNP) was downgraded to sell at TheStreet Ratings. Hanesbrands (HBI) numbers were initiated with an outperform rating at Wells Fargo. Strong free cash flow should boost growth, Wells Fargo said. Harley-Davidson (HOG - Get Report) was initiated with an overweight rating at Morgan Stanley. $62 price target. Company is leveraged to a better housing market, Morgan Stanley said. Heartware (HTWR) was downgraded at Credit Suisse to neutral from outperform. Valuation call, based on a $105 price target, Credit Suisse said. Humana was upgraded at J.P. Morgan to overweight from neutral. Medicare Advantage plans should be able to sustain membership growth through upcoming reimbursement cuts, J.P. Morgan said.
Lender Processing Services (LPS) was upgraded to buy at TheStreet Ratings. Paccar (PCAR - Get Report) was downgraded at Bank of America/Merrill Lynch to neutral from buy. $55 price target. Stock is already pricing in a 20% earnings recovery, BofA/Merrill said. Pharmerica (PMC) was upgraded to buy at TheStreet Ratings. Integrys Energy (TEG) was downgraded at DA Davidson to neutral from buy. $63 price target. Stock is up 20% year-to-date and already pricing in better weather, DA Davidson said. Thoratec (THOR) was upgraded to neutral from underperform at Credit Suisse. $37 price target. Most challenging quarter is behind the company, Credit Suisse said. United Natural Foods (UNFI) was upgraded at UBS to buy from neutral. Accelerated demand for organics and market share gains will drive the stock higher, UBS said. Price target goes to $56. Unum (UNM) was downgraded at Deutsche Bank to hold from buy. Valuation call, based on a $31 price target, Deutsche Bank said.
STOCK COMMENTS / EPS CHANGESAutomatic Data (ADP) numbers were raised at BMO Capital Markets. Shares are now seen reaching $75. Estimates were also increased, as the company is converting customers over to its new HCM platforms, BMO Capital said. Outperform rating.
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