NEW YORK (TheStreet) -- CHANGE IN RATINGS
Avery Dennison (AVY) was upgraded at Bank of America/Merrill Lynch to buy from neutral. $52 price target. Favor more offensive names in the sector, BofA/Merrill said.
Bemis (BMS) was downgraded at BofA/Merrill to underperform from buy. Valuation call, based on a $44 price target, BofA/Merrill said.
FAB Universal (FU) was upgraded to hold at TheStreet Ratings.Gilat Satellite (GILT) was downgraded to sell at TheStreet Ratings. General Mills (GIS) was downgraded at Jefferies to underperform from hold. $44 price target. Weaker outlook at a high price, Jefferies said. Nordstrom (JWN) was downgraded at Sterne Agee to neutral. Company is investing more in future growth, but domestic consumer activity remains choppy, Sterne Agee said. $62 price target. (P) was upgraded at Goldman Sachs to buy from neutral. $27 price target. Mobile ad RPM and subscription revenue growth are accelerating, Goldman said. Xcel Energy (XEL) was initiated with a neutral rating at UBS. $30 price target. Growth opportunities are slowing, UBS said.
Stock Comments / EPS ChangesApplied Materials (AMAT) estimates were cut at UBS through 2014. Company is facing gross margins headwinds, UBS said. Neutral rating and $15 price target. Aspen Technology (AZPN) numbers were raised at Benchmark. Shares are now seen reaching $38. Estimates were also increased, as the company has a lot of earnings momentum, Benchmark said. Buy rating. Dick's Sporting Goods (DKS) estimates were lowered at J.P. Morgan. Estimates were lowered through 2013. Expecting the third consecutive quarter of lower-than-forecasted same store sales growth, J.P. Morgan said. $60 price target and overweight rating.
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