NEW YORK (
CHANGE IN RATINGS
Celgene (CELG) was upgraded at Credit Suisse to outperform from neutral. $210 price target. Estimates were also boosted, given higher expected Revlimid sales, Credit Suisse said.
Caesars Entertainment (CZR) was initiated with a sell rating at TheStreet Ratings.
3D Systems (DDD) was initiated with a buy rating at Deutsche Bank. $95 price target. Company is expanding margins and should continue to benefit from growing customer demand, Deutsche Bank said.
Quest Diagnostics (DGX) was downgraded to underperform at Bank of America/Merrill Lynch. $55 price target. Expect weak growth and pricing prospects to continue in 2014, BofA/Merrill said.
Edwards Lifesciences (EW) was downgraded at Wells Fargo to market perform from outperform. Company is facing increased domestic competition, Wells Fargo said.
[Read: Lululemon Hires New CEO; Chairman and Founder to Step Down]
Harman (HAR) was upgraded at Wells Fargo to outperform from market perform. Adoption rates and a recovery in Europe could drive the stock up toward $100, Wells Fargo said.
Johnson Controls (JCI) was upgraded at RBC Capital to Top Pick from outperform. $61 price target. Transformational part of the JCI story is not appreciated by the market, RBC Capital said.
Lehigh Gas Partners (LGP) was initiated with a sell rating at TheStreet Ratings.
Parker Hannifin PH was upgraded at Argus to buy from hold. $139 price target. Company has a competitive edge, and order growth appears to be at an inflection point, Argus said.
[Read: Adobe, Lululemon and Vera Bradley Earnings Ahead]
Tenneco (TEN) was downgraded at RBC Capital to outperform from Top Pick. Valuation call, based on a $66 price target, RBC Capital said.
United Rentals (URI) was upgraded at RBC Capital to Top Pick from outperform. $85 price target. Company has solid fundamentals and can experience multiple expansion, RBC Capital said.
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