NEW YORK (TheStreet) -- CHANGE IN RATINGS
Alcoa (AA) was downgraded at J.P. Morgan to neutral from overweight. $9 price target. Estimates were also cut, given lower expected aluminum prices, J.P. Morgan said.
Assurant (AIZ) was downgraded at Bank of America/Merrill Lynch to underperform from neutral. Valuation call, based on a $51 price target, Bank of America/Merrill Lynch said.
Autonation (AN) was upgraded at Credit Suisse to outperform from neutral. Valuation is low and the company has leverage potential in parts and service, Credit Suisse said. $53 price target.Arm Holdings (ARMH) was upgraded at UBS to buy from neutral. The 30% pullback from the peak in the stock is overdone, UBS said. (CMA) was upgraded at Citigroup to neutral from sell. Precipitous change in interest rates, said Citigroup. Continental Materials (CUO) was downgraded to hold at TheStreet Ratings. First Niagara (FNFG) was downgraded at Sterne Agee to neutral from buy. Earnings likely will crimp capital ratios, Sterne Agee said. Global Geophysical Services (GGS) was downgraded to sell at TheStreet Ratings. New York Times (NYT) was upgraded at Lazard Capital Markets to neutral from sell. The company should benefit from higher interest rates and a better real estate market, Lazard Capital Markets said. Pinnacle West (PNW) was downgraded at Williams to hold from buy. Valuation call, based on a $58 price target, Williams said. (WERN) was downgraded at Wunderlich to hold from buy. $25 price target. Anticipate negative earnings growth for a fourth consecutive quarter, Wunderlich said. Zions Bancorporation (ZION) was upgraded at Citigroup to buy from neutral given valuation. Consensus estimates don't correctly reflect the capital structure simplification story, Citi said.
STOCK COMMENTS/EPS CHANGESBlackrock (BLK) estimates, price target were cut at Sterne Agee. Shares are now seen reaching $286. Estimates were also reduced, given lackluster industry fund flows, Sterne Agee said. Neutral rating. firstname.lastname@example.org. Follow TheStreet on Twitter and become a fan on Facebook.
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