GlaxoSmithKline (GSK) was upgraded at Argus to buy from hold. Asset swap with Novartis is attractive, Argus said.
Illumina (ILMN) was upgraded at Maxim Group to buy from hold. Twelve-month price target is $205. Clinical customers are accelerating adoption and the company is seeing better penetration of HiSeq X Ten, Maxim Group said.
Eli Lilly (LLY) was downgraded at Leerink Swann to neutral from buy. Twelve-month price target is $61. Company lacks near-term catalysts and made an expensive acquisition of Novartis' animal health business, Leerink Swann said.
Quality Systems (QSII) was downgraded at Morgan Stanley to underweight from equal-weight. Twelve-month price target is $15. Company will be hurt from consolidation of its customer base, Morgan Stanley said.(NC) was upgraded to hold at TheStreet Ratings. Rexnord (RXN) was downgraded at Bank of America/Merrill Lynch to underperform. Valuation call, based on a 12-month price target of $29, Bank of America/Merrill said. Sunpower (SPWR) was upgraded at Bank of America/Merrill Lynch to buy. Valuation call, based on a 12-month price target of $37, Bank of America/Merrill said. TECO Energy (TE) was upgraded at UBS to neutral from sell. Driven by group recovery, deal savings and better coal outlook, UBS said. Twelve-month price target is $17. UGI (UGI) was initiated with an equal weight rating at Barclays. LOB generates excess cash flow, with estimated growth earnings at around 6% CAGR, Barclays said. Twelve-month price target is $47. Vitamin Shoppe (VSI) was upgraded to buy at Sterne Agee. Twelve-month price target is $57. Same-store sales and margins appear to be at an inflection point, Sterne Agee said.
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