NEW YORK (TheStreet) -- CHANGE IN RATINGS
Abercrombie & Fitch (ANF) was upgraded at Bank of America/Merrill Lynch to buy. $60 price target. Company has multiple potential growth catalysts, BofA/Merrill said.
Broadcom (BRCM) was initiated with a buy rating at Topeka Capital Markets. $42 price target. Company is leveraged to higher network growth, Topeka Capital Markets said.
Brocade (BRCD) was upgraded at ISI Group to buy from neutral. $7.50 price target. Company has multiple potential near-term catalysts, ISI Group said.Calgon Carbon (CCC) was downgraded at Robert Baird to neutral from outperform. Valuation call, Baird said. Chemtura (CHMT) was downgraded at Oppenheimer to underperform from perform. Stock has held up even though earnings expectations have come down considerably, Oppenheimer said.
CNET (CNET) was downgraded to sell at TheStreet Ratings. Global Eagle Entertainment (ENT) was initiated with a sell rating at TheStreet Ratings. Intel (INTC) was downgraded at Piper Jaffray to underweight from neutral. $20 price target. Sentiment is improving, but cutting PC expectations once again, Piper Jaffray said. Iron Mountain (IRM) was downgraded at Stifel Nicolaus to hold from buy. Expect a lower possibility that the company will convert to a REIT, Stifel Nicolaus said. Mannkind (MNKD) was downgraded at Bank of America/Merrill Lynch to neutral. Valuation call, based on an $8 price target, BofA/Merrill said. Qualcomm (QCOM) was initiated with a hold rating at Topeka Capital Markets. $65 price target. Company will likely face increased competition, Topeka Capital Markets said.
Sprint Nextel (S) was downgraded at Nomura to neutral. Valuation call, based on a $7.50 price target, Nomura said. United Continental (UAL) was upgraded at Goldman Sachs to neutral from sell. Integration fears are priced into the stock, Goldman said. $36 price target. VMware (VMW) was downgraded at Drexel Hamilton to hold from buy. Company is expected to post lower cash flow growth, Drexel Hamilton said. Yum! Brands (YUM) was upgraded at UBS to buy from neutral. The company is reaching an inflection point in China and profitability should begin to improve, UBS said. Price target goes to $80.
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