NEW YORK (
CHANGE IN RATINGS
Activision (ATVI) was upgraded at Bank of America/Merrill Lynch to buy from neutral. Twelve-month price target is $25. Company can post better near-term earnings growth, Bank of America/Merrill said.
(CAB) was upgraded at William Blair to outperform from market perform. Company can accelerate growth in the coming quarters, William Blair said.
Dynegy (DYN) was initiated with a sell rating at TheStreet Ratings.
Electronic Arts (EA) was downgraded at Bank of America/Merrill Lynch to neutral from buy. Twelve-month price target is now $35. Company lacks near-term catalysts, BofA/Merrill said.
(EXPR) was downgraded at UBS to neutral from buy. Underwhelming guidance with questionable execution and brand relevancy, UBS said. Twelve-month price target is now $17.
MagnaChip (MX) was downgraded to hold at TheStreet Ratings.
PVH (PVH) was downgraded at Morgan Stanley to equal-weight. New analyst sees an increasingly promotional environment, Morgan Stanley said.
Stock Comments / EPS Changes
Adobe Systems (ADBE) price target, EPS estimates were increased at Jefferies. Driven by new user growth, Enterprise ARR ramp and lack of alternatives for CS users, Jefferies said. Twelve-month price target is $80. Buy rating.
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