NEW YORK (TheStreet) -- CHANGE IN RATINGS
Apple (AAPL) was upgraded at Pacific Crest to outperform from sector perform. Twelve-month price target is $635. Business stagnation has been priced into the stock, Pacific Crest said.
Bank of New York Mellon (BK) was upgraded at UBS to buy from neutral. Driven by rate-driven capital relief, UBS said.
FMC (FMC) was downgraded at Wells Fargo to market perform from outperform. Business split is already priced into the stock, Wells Fargo said.
FMC was downgraded at Piper Jaffray to neutral from overweight. Valuation call, based on a 12-month price target of $87.J.C. Penney (JCP) was upgraded at Citigroup to buy. Company can likely continue to turn sales around, Citigroup said. Twelve-month price target is $11. Kaman (KAMN) was upgraded at Drexel Hamilton to buy. Twelve-month price target is $46. Company offers growth at a reasonable price, Drexel Hamilton said.
Macy's (M) was upgraded at Wells Fargo to outperform from market perform. Company is posting strong sales in a challenging environment, Wells Fargo said. Northern Trust (NTRS) was downgraded at UBS to sell from neutral. Expensive as an asset manager with less flexibility, UBS said. Stanley Black & Decker (SWK) was upgraded at Wells Fargo to outperform from market perform. Valuation call, based on sum-of-the-parts analysis. Triumph (TGI) was downgraded at RBC Capital to sector perform from outperform. Twelve-month price target is now $71. Company could face increased charges and business disruptions, RBC Capital said.
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