NEW YORK (
CHANGE IN RATINGS
(AAP) was upgraded to top pick from outperform at RBC Capital. $131 price target. The GPI acquisition should help drive growth, RBC said.
(APC) was downgraded to underweight from equalweight at J.P. Morgan. The lost Tronox decision and lingering uncertainty will cause the stock to underperform, said J.P. Morgan.
(ATHN) was upgraded to outperform by Leerink Swann. $150 price target. The company can continue to deliver 30% bookings growth in 2014, Leerink said.
Chevron (CVX) was initiated with a rating of sector perform by RBC Capital. $120 price target. The company has above-average production growth but large negative free cash flow, said RBC.
8x8 (EGHT) was downgraded to a hold rating at TheStreet Ratings.
[Read: Amazon Forecast: Partly Cloudy With Chance of New Revenue]
Hilton (HLT) was initiated with a neutral rating by MKM Partners. $24 price target. The rating is a valuation call, said MKM.
Lululemon (LULU) was downgraded to neutral from outperform at Credit Suisse. $59 price target. The underlying demand environment is changing, Credit Suisse said.
Seagate (STX) was upgraded to buy by Citigroup. $62 price target. The industry should benefit from a recovery in PC demand, said Citigroup.
Supertex (SUPX) was downgraded to a hold rating at TheStreet Ratings.
Suncoke (SXC) was upgraded to buy from neutral by Bank of America/Merrill Lynch. $25 price target. An asset swap with MLP should boost returns, said BofA/Merrill.
Western Digital (WDC) was upgraded to buy at Citigroup. $100 price target. The company is leveraged to a recovery in the PC market, said Citigroup.
[Read: Managers Cautious on 2013's Top Stocks, Such as Netflix, Micron]
US Steel (X) rating was raised to outperform from market perform at Cowen. The company is leveraged to higher demand as economies recover in the U.S. and Europe, Cowen said.
Exxon Mobil (XOM) was initiated with a rating of outperform by RBC Capital. $105 price target. The company is a market leader and deserves a premium valuation, said RBC.
Quiksilver (ZQK) was upgraded to buy from neutral by B. Riley. $10 price target. Management is turning the business around, said B. Riley.
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