CHANGE IN RATINGS
Baxter (BAX) was upgraded at Credit Suisse to outperform from neutral. $80 price target. Biogen Idec (BIIB) is facing delays in a competing product, and the company could split its business, Credit Suisse said.
Bristow (BRS) was upgraded to neutral at Goldman Sachs. Company is defensive and can deliver 15% to 20% annual growth, Goldman said.
Companhia Brasileira De Distribuicao (CBD) was upgraded to buy at TheStreet Ratings.
Darling (DAR) was downgraded at Wedbush to neutral from outperform. $20 price target. Estimates also cut, given lower biodiesel demand, Wedbush said.
Diebold (DBD) was upgraded at Keybanc to buy. $35 price target. Turnaround story is becoming more compelling, Keybanc said.
Hornbeck Offshore (HOS) was downgraded at Goldman Sachs to sell from neutral. $53 price target. Gulf of Mexico rig count will not grow as quickly as expected, Goldman said.
InterContinental Exchange (ICE) was upgraded at BMO Capital to outperform from market perform. $224 price target. New analyst said the company will sell Euronext and buy back shares, BMO Capital said. Maxim (MXIM) was upgraded at MKM Partners to buy from neutral. $35 price target. Company should see better end-market demand, MKM Partners said.
Microsoft (MSFT) was downgraded at Bank of America/Merrill Lynch to underperform. $36 price target. CEO transition adds risks to the model, BofA/Merrill said. Nvidia NVDA was downgraded at Morgan Stanley to underweight. $13 price target. Earnings upside potential is uncertain, Morgan Stanley said.
ON Semiconductor ONNN was downgraded at MKM Partners to neutral from buy. $8 price target. Company is leveraged by a soft macro environment, MKM Partners said. (RYN) was upgraded at RBC Capital to outperform from sector perform. Real Estate business can drive earnings upside, RBC Capital said.
Stryker (SYK) was downgraded to hold at TheStreet Ratings.
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