NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Abbott Laboratories (ABT - Get Report) was upgraded at Goldman Sachs (GS) was upgraded to buy from neutral at Goldman Sachs. $44 price target. Growth poised to accelerated with margin expansion, Goldman said.
General Dynamics (GD - Get Report) was upgraded at Drexel Hamilton to buy. $88 price target. Company will likely not be hurt as much by defense budget cuts, Drexel Hamilton said. HigherOne Holdings (ONE) was upgraded to hold at TheStreet Ratings. CarMax (KMX - Get Report) was downgraded at William Blair to market perform at BMO Capital Markets. Expectations are high going in the first-quarter report, and valuation is rich, BMO Capital Markets said. J.C. Penney (JCP) was upgraded at Maxim Group to buy from hold. $27 price target. Recent change in strategy should drive traffic back to the stores, Maxim said. Kansas City Southern (KSU) was downgraded at Stifel Nicolaus to sell from hold. Valuation call, Stifel Nicolaus said. Michael Kors (KORS) was initiated with a buy rating at Canaccord Genuity. North American wholesale is an underappreciated growth opportunity, Canaccord said. Price target is $82. Lowe's (LOW) was downgraded at Oppenheimer to perform from outperform. Valuation call, Oppenheimer said.
NetApp (NTAP) was downgraded at Robert Baird to outperform from neutral. Company is facing increased competition, Robert Baird said. Priceline.com (PCLN - Get Report) was upgraded at Deutsche Bank to buy from hold. $900 price target. Expect industry fundamentals to improve in the second half of the year, Deutsche Bank said. Red Hat (RHT) was downgraded at BMO Capital Markets to market perform from outperform. $54 price target. Stock is up 15% in May, even though business is decelerating, BMO Capital said. Range Resources (RRC) was downgraded at Stifel Nicolaus to hold from buy. Valuation call, as the stock is up 22% year to date, Stifel Nicolaus said.