CHANGE IN RATINGS
Advance Auto Parts (AAP) was upgraded at Credit Suisse to outperform from neutral. $130 price target. Company should realize higher merger synergies, Credit Suisse said.
Consolidated Edison (ED) was downgraded at Jefferies to underperform from hold. Company is unable to reach a settlement in its electric, gas and steam rate case. $49 price target
Ecology and Environment (EEI) was downgraded to sell at TheStreet Ratings.
Facebook (FB) was initiated with an outperform rating at FBR Capital Markets. $60 price target. Company has significant opportunity ahead, and pricing is inflecting, FBR Capital Markets said.
LinkedIn (LNKD) was initiated with a market perform rating at FBR Capital Markets. $214 price target. Valuation call, as the stock is trading with a price-to-earnings ratio of 104, based on 2014 earnings estimates.
Pioneer Natural (PXD) was downgraded at Oppenheimer to perform from outperform. Valuation call, as the stock is already pricing in growth potential in the Permian Basin.
Quintiles (Q) was downgraded at Deutsche Bank to hold from buy. New analyst believes that industry valuation is rich, Deutsche Bank said. $51 price target.
Republic Services (RSG) was downgraded at Goldman Sachs to neutral. Valuation call, based on a $36 price target, Goldman Sachs said.
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