NEW YORK (TheStreet) -- CHANGE IN RATINGS
Adobe (ADBE) was upgraded at Pacific Crest to outperform. $60 price target. Company should benefit from growing CMO budgets, Pacific Crest said.
Altera (ALTR) was upgraded at Citigroup to buy from neutral. Opportunity in China wireless, said Citigroup. Price target goes to $41.
Alliant Techsystems (ATK) was upgraded at Drexel Hamilton to buy from hold. $110 price target. Company is leveraged to higher civilian demand for ammunition, Drexel Hamilton said.Big Lots (BIG) was upgraded at J.P. Morgan to neutral from underweight. Risk/reward balanced with setup reversed and change underway, J.P. Morgan said. Darling (DAR) was upgraded at Canaccord Genuity to buy. $25 price target. Rothsay acquisition fits in and should add to earnings, Canaccord Genuity said. (DLTR) was upgraded at Deutsche Bank to buy. Company has easier comps and can generate higher free cash flow, Deutsche Bank said. $60 price target. Family Dollar (FDO) was downgraded at Deutsche Bank to hold from buy. Valuation call, based $74 price target, Deutsche Bank said. Hasbro (HAS) was upgraded at Citigroup to buy from sell and given a $53 price target. Core product launches should reaccelerate sales growth, Citi said. Raytheon (RTN) was downgraded at Stifel Nicolaus to hold from buy. Valuation call, as the stock exceeded the $77 price target, Stifel Nicolaus said. (TSN) was downgraded at Bank of America/Merrill Lynch to neutral from buy. $32 price target. Industry data suggest a steep increase in production, BofA/Merrill said.
Stock Comments / EPS ChangesBed, Bath & Beyond (BBBY) price target was raised at Credit Suisse to $80. Company has improved its Web site, and channel checks are positive for back-to-school shopping, Credit Suisse said. Outperform rating. EOG Resources (EOG) numbers were increased at Jefferies through 2014. Company can continue to grow in the Eagle Ford. Buy rating and new $195 price target. (FL) estimates were cut at UBS. Estimates were reduced to reflect slowing same store sales, said UBS. Price target is $39. Hibbert Sports (HIBB) numbers were reduced at Piper Jaffray. Shares are now seen reaching $56. Estimates also cut, as 2013 could prove to be a bridge year, Piper Jaffray said. Neutral rating. >To submit a news tip, email: firstname.lastname@example.org. Follow TheStreet on Twitter and become a fan on Facebook.
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