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CHANGE IN RATINGS
BB&T (BBT) was upgraded at Morgan Stanley to overweight from equal-weight. $40 price target. Valuation call, as the stock has underperformed its peers by 12% this year, Morgan Stanley said.
(C) was downgraded at Goldman Sachs to neutral from buy. $60 price target. Risk that shares stay range-bound in 2014 as developed outperform emerging markets, Goldman said.
Delek Logistics (DKL) was initiated with a sell rating at TheStreet Ratings.
Friedman Industries (FRD) was downgraded to hold at TheStreet Ratings.
Flextronics (FLEX) was downgraded at Goldman Sachs to sell from neutral. Have a less positive view on the entire industry, Goldman said. $7 price target.
Johnson Controls (JCI) was upgraded at RBC Capital to outperform from sector perform. $61 price target. Company has an analyst meeting coming up and annual earnings power can reach $5 a share, RBC Capital said.
(MAS) was initiated with a buy rating at MKM Partners. $26 price target. Company should continue to see improvement in volume, pricing and mix, MKM Partners said.
[Read: 2013 Tech Predictions: Chris Ciaccia Looks Back]
Ross Stores (ROST) was downgraded at Credit Suisse to neutral from outperform. Valuation call, based on a $75 price target, Credit Suisse said.
[Read: 3 Stocks Under $10 in Breakout Territory] AT&T (T) was downgraded at J.P. Morgan to neutral from overweight. $38 price target. Wireless competition increases and international M&A looms, J.P. Morgan said. Whirlpool (WHR) was initiated with a buy rating at MKM Partners. $183 price target. Company still has upside potential to earnings and valuation, MKM Partners said.
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