CHANGE IN RATINGS
AECOM Technology (ACM) was upgraded to buy at TheStreet Ratings.
Cisco (CSCO) was downgraded at Deutsche Bank to hold from buy. $25 price target. Company is seeing weak order flow from the emerging markets, Deutsche Bank said.
Cisco was downgraded at Wedbush from outperform to neutral. $23 price target. Company could face growth challenges for several quarters, Wedbush said.
Lifepoint (LPNT) was upgraded at Deutsche Bank to buy from hold to buy. $61 price target. M&A pipeline has tailwinds, and the company can releverage, Deutsche Bank said.
Lululemon (LULU) was downgraded at Sterne Agee to underperform. $56 price target. Valuation call, as the stock is trading at a price-to-earnings ratio of 27, based estimates 2014 earnings.
Office Depot (ODP) was upgraded to buy at Bank of America/Merrill Lynch. $6.50 price target. Company has a new CEO and can realize sizable synergies, said BofA/Merrill. PNC Financial (PNC) was downgraded at Oppenheimer to perform. Valuation call, Oppenheimer said. $78 price target.
Solarcity (SCTY) was upgraded at Robert Baird to outperform from neutral. $71 price target. ABS has lowered the discount rate for future projects, Robert Baird said.
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