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CHANGE IN RATINGSAlaska 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 - Get Report) was downgraded at Jefferies to hold from buy. Valuation call, based on a $49 price target, Jefferies said.
Quest Diagnostics(DGX - Get Report) 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.
[Read: <a target="blank" data-add-tracking="true" href="http://www.thestreet.com/story/11976487/1/hold-bbt-ahead-of-earnings.html?kval=dontmiss"><em>Hold BB&T Ahead of Earnings</em></a>]
Eaton(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 - Get Report) 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 - Get Report) 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.
Kroger(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 - Get Report) 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.