NEW YORK (TheStreet) -- CHANGE IN RATINGS
Autozone (AZO) was downgraded at Deutsche Bank to hold from buy. $410 price target. Valuation call, as the stock is up 15% year to date, Deutsche said.
Franklin Resources (BEN) was upgraded at UBS to buy from neutral. BEN's diversified product offering, global scale and local distribution is powerful, UBS said. Price target goes to $185.
Franklin Resources was upgraded at Citigroup to buy from neutral. Global bond flows are sustainable, the U.S. business is undervalued and the equities business is performing best in class, Citi said. Price target goes to $200.Carlyle Group (CG) was downgraded at UBS to neutral from buy. Fundraising efforts will weigh on results in the near term, UBS said. Price target goes to $32. Cisco Systems (CSCO) was upgraded at FBR Capital Markets to market perform from underperform. $19 price target. Company appears to be gaining momentum in the SDN area, FBR Capital Markets said.
Dupont Fabros (DFT) was upgraded at Jefferies to buy. $32 price target. Company can continue to generate solid bottom-line growth, Jefferies said. Endo Health (ENDP) was downgraded at Lazard Capital Markets to sell from neutral. $27 price target. FDA denied Opana CP, Lazard Capital Markets said. Express Scripts (ESRX) was upgraded at Jefferies to buy from hold. $74 price target. Uncertainty is gone and the company should resume share repurchases, Jefferies said. Corning (GLW) was upgraded at Morgan Stanley to equal-weight. LCD prices are more stable and the company is hedged against the yen, Morgan Stanley said. $16 price target.
Invesco (IVZ) was downgraded at UBS to neutral from buy. Progress toward margin target has been solid and is priced in, UBS said. Price target goes to $35. Johnson Controls (JCI) was upgraded at Lazard Capital Markets to buy from neutral. $45 price target. Recent meetings with management confirm that operations are improving, Lazard Capital Markets said. Omega Protein (OME) was upgraded to buy at TheStreet Ratings. Owens Corning (OC) was upgraded at Keybanc to buy from hold. $51 price target. Insulation margins should improve with the housing recovery, Keybanc said. PAR Technology (PAR) was downgraded to sell at TheStreet Ratings. Parker Hannifin (PH) was initiated with a buy rating at Bank of America/Merrill Lynch. $112 price target. Earnings will likely exceed expectations in fiscal 2014, BofA/Merrill said.
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