Sinclair Broadcast (SBGI) was downgraded at Wells Fargo to market perform. Sector is facing increased regulatory scrutiny, Wells Fargo said.
Constellation Brands (STZ) was downgraded at Goldman Sachs to neutral from buy. Twelve-month price target is $88. Company lacks near-term catalysts, Goldman Sachs said.
TC PipeLines (TCP) was upgraded at UBS to buy from neutral. Drop-downs of gas assets used to fund internal growth projects, UBS said. Twelve-month price target is $51.
Stock Comments / EPS ChangesAvago Technologies (AVGO) price target was lifted at UBS. FBAR filter products will driver overall top-line growth. Twelve-month price target is now $70. Buy rating. Baxter (BAX) was cut from the Conviction Buy List at Goldman Sachs. Twelve-month price target is $77. Company is facing supply constraints, Goldman said. Fortinet (FTNT) estimates, price target were raised at Oppenheimer. Shares are now seen reaching $28. Estimates were also increased, following positive channel checks, Oppenheimer said. Hyatt (H) estimates, price target were boosted at Bank of America/Merrill Lynch. Shares are now seen reaching $60. Estimates were also increased, given higher expected room growth, BofA/Merrill said. Buy rating. VeriFone Systems (PAY) price target was increased at Jefferies. Driven by increased fiscal 2014 guidance and increased visibility and improvement in management execution, Jefferies said. Twelve-month price target is $38. Buy rating.
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