NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Actavis (ACT) was upgraded at Leerink Swann to outperform from market perform. $155 price target. Company can exceed near-term earnings expectations, Leerink Swann said.
Air Products (APD) was downgraded at Jefferies to hold. Valuation call, as the stock is up 22% since the beginning of May, Jefferies said. $104 price target.
Boston Scientific (BSX) was upgraded to hold at TheStreet Ratings.Cabot Oil & Gas (COG) was upgraded at Oppenheimer to outperform. Ratings change reflects strong top-line growth, Oppenheimer said. Unparalleled growth in shale-gas industry will generate high FCF, Oppenheimer also said. Price target $100. Cash America (CSH) was downgraded at Sterne Agee to underperform from neutral. Price target decreased to $36. There is weakness in U.S. pawn shop lending, and there is already scrutiny on small-bank ACH activity, Sterne Agee said. (EXPE) was downgraded at Lazard Capital Markets to neutral from buy. Growth could decelerate in the coming quarters, Lazard Capital Markets said. Flir Systems (FLIR) was downgraded at J.P. Morgan to underweight from neutral. Price target is $29.50. Shares have reached the price target, downgrading on valuation, J.P. Morgan said. Francesca's (FRAN) was downgraded to neutral at Wedbush and given a $32 price target. Concerns about a short-term slowdown, Wedbush said. Lackluster mall traffic, contracting margins and a competitive back-to-school environment threaten FRAN's market share, Wedbush also said. Hormel (HRL) was upgraded at Credit Suisse to outperform from neutral. $46 price target. Company can outperform its peers in a difficult environment, Credit Suisse said. (KBR) was downgraded at William Blair to market perform from outperform. $37 price target. Large projects are being delayed and the company has limited earnings upside potential, William Blair said. Lazard (LAZ) was upgraded to buy at TheStreet Ratings. Lear (LEA) was downgraded at UBS to neutral from buy. Valuation call, as the stock is up 44% year to date, UBS said. $70 price target. Mettler-Toledo (MTD) was upgraded at Cantor Fitzgerald to buy. Strong second-quarter beat and pending growth opportunities, said Cantor Fitzgerald. International expansion and margin growth potential drove the bull case and a new $252 price target, Cantor Fitzgerald said. Noble Energy (NBL) was downgraded at Bank of America/Merrill Lynch to neutral from buy. $71 price target. Valuation call, as the stock has gained 30% since December, BofA/Merrill Lynch said.
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