NEW YORK (TheStreet) -- RATINGS CHANGES
Acxiom (ACXM) was upgraded to market perform from underperform at BMO Capital. This was a valuation call, based on a $25 12-month price target, BMO said.
BE Aerospace (BEAV) was downgraded to neutral from buy at UBS. This was a valuation call, with a $99 12-month price target, UBS said.
Bristol-Myers (BMY) was downgraded to market perform from outperform at BMO Capital. $55 12-month price target. ASCO abstracts were negative for the company's Nivo/Yervoy combo treatment, said BMO.(CSCO) upped its numbers, and its price target and estimates were raised at Jefferies. Cisco has a product book-to-bill ratio above 1 and product orders improved 1% year over year. $24 12-month price target and hold rating, Jefferies said. Phoenix New Media (FENG) was upgraded to buy at TheStreet Ratings. Frontier (FTR) was downgraded to underperform from neutral at DA Davidson DA Davidson. $5 12-month price target. This was a valuation call, as the dividend is not likely to increase, DA Davidson said. Huntington Ingalls (HI) was downgraded to neutral from buy at Bank of America/Merrill Lynch. $106 12-month price target. This was a valuation call, as the stock is up 11% year-to-date, BofA/Merrill said. (HPY) was upgraded to outperform from neutral at Robert Baird. The company can deliver better earnings growth and deserves a higher multiple, Baird said. ITC (ITC) was downgraded to neutral at JP Morgan. The company lacks CapEx visibility, JP Morgan said. L-3 Communications (LLL) was upgraded to buy from underperform at Bank of America/Merrill Lynch. $146 12-month price target. The company is seeing higher pension income and paying down convertible debt, BofA/Merrill said.
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