NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Alaska Air (ALK) was upgraded at Morgan Stanley to equal-weight based on improved fiscal-year 2013-2014 estimates. Company's high relative margin strength has potential to generate cash returns, Morgan Stanley said. Price target was raised to $65.
Alpha Natural (ANR) was upgraded at Deutsche Bank to buy from hold. $7.50 price target. There is room for improvement in the coking coal market, Deutsche Bank said.
Bristol-Myers (BMY) was downgraded at Jefferies to hold from buy. Valuation call, based on a $49 price target, Jefferies said.Quest Diagnostics (DGX) was initiated with a neutral rating at Robert Baird. $58 price target. Turnaround story may still take some time, Robert Baird said. Discovery (DISCA) was downgraded to neutral from buy at B. Riley. Valuation call, as the stock is up 33% year to date, B. Riley said. (ETN) was initiated with a buy rating at Argus Research. $78 price target. Company should benefit from secular infrastructure growth trends, Argus said. FedEx (FDX) was initiated with a buy rating at Wunderlich. $120 price target. Company should benefit from favorable long-term secular trends, Wunderlich said. F5 Networks (FFIV) was upgraded at Piper Jaffray to overweight from neutral. $88 price target. Company can execute better and deliver better product growth, Piper Jaffray said. Hormel (HRL) was upgraded at BMO Capital to outperform from market perform. $49 price target. Company has multiple potential earnings levers, BMO Capital said. (KR) was downgraded at Goldman Sachs to sell from neutral despite increased $35 price target, Goldman Sachs said. The best-in-class grocer now trades at a premium as the market has priced-in KR's price and position advantages, Goldman said. LPL Financial (LPLA) was upgraded to buy at TheStreet Ratings. NewStar Financial (NEWS) was upgraded to buy at TheStreet Ratings. Pfizer (PFE) was downgraded at Jefferies to hold from buy. Valuation call, based on a $30 price target, Jefferies said. Quality Systems (QSII) was upgraded at Robert Baird to outperform from neutral. $26 price target. Company has the lowest valuation in the sector but should see improved themes and bookings in the near future, Robert Baird said.
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