NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Apache (APA) was upgraded to buy at TheStreet Ratings.
Bed, Bath & Beyond (BBBY) was downgraded at Canaccord Genuity to hold from buy. $84 price target. Company could be hurt by a challenging consumer discretionary environment, Canaccord Genuity said.
Biogen Idec (BIIB) was initiated with a market perform rating at FBR Capital Markets. $259 price target. Company has limited visibility with its hemophilia franchises, FBR Capital Markets said.Corporate Executive Board (CEB) was downgraded to hold at TheStreet Ratings. (DAN) was downgraded at Keybanc to hold from buy. Valuation call, as little new business growth is expected in 2014. Edwards Lifesciences (EW) downgraded at J.P. Morgan to underweight from neutral. $62 price target. Street estimates too high and growth deceleration to start in the second half of 2014. First Republic (FRC) was downgraded at Deutsche Bank to hold. Valuation call, as the stock is up 53% since January, Deutsche Bank said. Johnson Controls (JCI) was downgraded at Litchfield Hills to hold from buy. Valuation call, based on a $47 price target, Litchfield Hills said. Michael Kors (KORS) was initiated with a buy rating at Maxim Group. $99 price target. Company can continue to grow over the coming years, Maxim Group said. Oceaneering (OII) was upgraded at Howard Weil to outperform from sector perform. $105 price target. Company has solid visibility and boosted guidance, Howard Weil said. (SM) was upgraded at Topeka Capital to buy from hold. $120 price target. Company disclosed new acreage in the Permian basin, Topeka Capital said. SanDisk (SM) was downgraded at Bank of America/Merrill Lynch to neutral from buy. Valuation call, based on a $75 price target, BofA/Merrill Lynch said. Union Pacific (UNP) was downgraded at Robert Baird to neutral from outperform. $173 price target. Stock is largely factoring in strong pricing, Baird said. US Steel (X) was downgraded at Deutsche Bank to hold from buy. $22 price target. Company offered a weaker outlook, despite better steel market trends, Deutsche Bank said. Xylem (XYL) was downgraded at Keybanc to hold from buy. Valuation call, following the recent surge in the stock, Keybanc said.
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