NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Apple (AAPL) rated new buy at Cantor. $777 price target. Stock has been challenged this year, but appears to be in the midst of a recovery.
Asbury Automotive (ABG) upgraded at Keybanc from hold to buy. $60 price target. Estimates also boosted, given higher industry demand.
Allison Transmission (ALSN) upgraded at Goldman to buy. $27 price target. End-market demand is improving and the company gives back its free cash flow in dividends.Best Buy (BBY) upgraded at BofA/Merrill from underperform to neutral. $38 price target. Company is cutting costs faster than expected. Beam (VZ) downgraded at Argus from buy to hold, Argus said. Stock is trading at a premium to its peers. (CG) downgraded at UBS to neutral from buy and given a $5.69 price target, said UBS. Higher political risk will make the recent run in the stock difficult to continue. CNA Financial (CNA) rated new buy at Deutsche. $42 price target. Company trades at a deep discount to its peers, but management can expand margins. Concur Technologies (CNQR) downgraded at Wunderlich from buy to hold. $96 price target. 2014 consensus earnings expectations appear too high. Gulfport Energy (GPOR) rated new Outperform at Wells. Company's core asset appears to be in a sweet spot of the Utica shale. Guidewire Software (GWRE) downgraded at Citi to sell from neutral and given a $37 price target, said Citigroup. Revenue growth is decelerating and expenses are ramping, making valuation difficult. Invensense (INVN) upgraded at Baird from neutral to outperform, Robert Baird said. $23 price target. Design win momentum has swung back to the company's favor. Loews (L) rated new Buy at Deutsche. $52 price target. Company is the cheapest of its peers, but can compound book value. Microsoft (MSFT) was downgraded at Morgan Stanley to equal-weight, Morgan Stanley said. Nokia deal adds risk to the company's model. Nokia (NOK) upgraded at BMO from underperform to market perform, BMO Capital said. $5 price target. MSFT deal terms are very positive for the company.
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