CHANGE IN RATINGS
Boeing (BA) was downgraded at Oppenheimer to perform from outperform. Valuation call, as the stock is trading at a price-to-earnings ratio of 14, based on expected 2016 earnings, Oppenheimer said.
Dick's Sporting Goods
(DKS) was downgraded at BMO Capital to underperform from market perform. $46 price target. See uninspiring growth for the company in the near term, BMO Capital said.
Consolidated Edison (ED) was downgraded at Argus. Valuation call, as the company will likely see a negative rate case decision in New York, Argus said.
Heartland Payment (HPY) was downgraded at Wells Fargo to market perform from outperform. Valuation call, Wells Fargo said.(LAYN) was upgraded at UBS to neutral. Future downside to earnings is largely reflected in the stock, UBS said. $16 price target.
Medtronic (MDT) was downgraded at Argus to hold from buy. Sales have been softening for two quarters, Argus said.
Oaktree Capital (OAK) was downgraded to sell at TheStreet Ratings. Patterson Cos (PDCO) was downgraded at UBS to neutral from buy. Greater competition in dental equipment and pressure on the P&L related to voluntary IT investments, UBS said. $46 price target. Pentair (PNR) was initiated with a buy rating at Stifel Nicolaus. $80 price target. Tyco acquisition has transformed the company, Stifel Nicolaus said.
Sirius XM (SIRI) was initiated with a sector perform rating at Pacific Crest. Company is facing increased competition, Pacific Crest said.
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