NEW YORK (
CHANGE IN RATINGS
Abercrombie & Fitch (ANF) was upgraded at Janney Montgomery to buy from neutral. Twelve-month price target is $49. Company is cutting costs and can exceed low earnings expectations, Janney Montgomery said.
Alliant Techsystems (ATK) was upgraded at Argus to buy from hold. Twelve-month price target is $139. Company is relying more on its consumer business and less on government contracts, Argus said.
Avery Dennison (AVY) was upgraded at Topeka Capital to buy from hold. Twelve-month price target is $59. Domestic checks suggest that fundamentals are improving, Topeka Capital said.
Acuity Brands (AYI) was upgraded at Wedbush to neutral from underperform. Twelve-month price target is $120. Company is realizing higher margins, Wedbush said.
Allegheny Technologies (ATI) was downgraded at Deutsche Bank to hold from buy. Twelve-month price target is $36. Steel price momentum will likely slow, Deutsche Bank said.(BIDU) was upgraded at Maxim Group to buy from hold. Twelve-month price target is $200. Expect continued growth of China's Internet economy and increasing efforts on new products and markets, Maxim Group said. BlackRock (BLK) was downgraded at Goldman Sachs to neutral. Valuation call, following the outperformance in 2013, Goldman said. Con-Way (CNW) was upgraded at Wells Fargo to outperform from market perform. Earnings expectations are more reasonable, given the current valuation, Wells Fargo said. (FOSL) was downgraded at Keybanc to underweight from hold. Twelve-month price target is $100. Company should see continued weakness in the domestic wholesale watch market, Keybanc said. Hartford (HIG) was upgraded at Wells Fargo to outperform from market perform. Visibility is improving, regarding the company's restructuring plans, Wells Fargo said.
Intact Financial (IFC:Toronto) was initiated at UBS with a buy rating. Superior ROE and industry leading market share, UBS said. Twelve-month price target is $80.
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