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CHANGE IN RATINGSAmazon.com(AMZN) was initiated with a buy rating and $340 price target at Citigroup. Retail margin expansion and the opportunity in AWS are underappreciated by investors, Citigroup said.
Baxter(BAX - Get Report) was initiated with an outperform rating at Credit Suisse. $81 price target. Company can deliver solid organic sales growth, Credit Suisse said.
Bemis(BMS) was downgraded at J.P. Morgan to neutral from overweight. Valuation call, as the stock is up 21% year to date, J.P. Morgan said.
eBay(EBAY) was initiated with a buy rating and $65 price target at Citigroup. Marketplace and PayPal will both drive significant growth going forward, Citigroup said.
Facebook(FB) was initiated with a neutral rating and $27 price target at Citigroup. The transition from desktop to mobile platforms leaves too many uncertainties in the near term, Citi said.
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Fortinet(FTNT) was upgraded at Jefferies to buy. $23 price target. Stock has 5-1 risk-reward potential from current levels, Jefferies said.
Google(GOOG) was initiated with a buy rating and $1,100 price target at Citigroup. The company offers solid secular growth, cost and pricing improvements, and an attractive valuation, Citi said.
GSV Capital(GSVC) was downgraded to sell at TheStreet Ratings.
Healthcare Trust of America(HTA) was initiated with a hold at TheStreet Ratings.
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Hewlett-Packard(HPQ - Get Report) was upgraded at Citigroup to buy from sell and given a $32 price target. The company is reaching an inflection point for HP's services, and cost cutting will significantly benefit the second half of 2013, Citi said.
Meredith(MDP) was downgraded at Citigroup to neutral from buy and given a $48 price target. The company's risk-reward has diminished given the run in the stock.
Norfolk Southern(NSC - Get Report) was downgraded at Deutsche Bank to hold from buy. $83 price target. Valuation call, as the stock has gained 20% year to date, Deutsche said.
OpenTable(OPEN) was initiated with a sell rating and $58 price target at Citigroup. High levels of market penetration will lead to a deceleration of growth, Citi said.
Sealed Air(SEE) was upgraded at J.P. Morgan to overweight from neutral. Necessary culture shift appears to be underway, because of the new management team, J.P. Morgan said.