NEW YORK (TheStreet) -- RATINGS CHANGES
Franklin Resources (BEN) was downgraded at Citigroup to neutral from buy. Twelve-month price target is $59. Estimates were also cut, as the company lacks near-term catalysts, Citigroup said.
BOK Financial (BOKF) was upgraded at BMO Capital to market perform from underperform. Twelve-month price target is $66. Estimates were also increased, as the company is realizing higher sales growth, BMO Capital said.
Cliffs Natural Resources (CLF) was upgraded at Bernstein to market perform from underperform. Twelve-month price target is $16. Company is slashing costs and the activist investor now has a majority of the board, Bernstein said.Read More: 8 Stocks George Soros Is Buying in 2014 Ecolab (ECL) was upgraded at J.P. Morgan to overweight. Company is seeing higher volume expansion than its peers, J.P. Morgan said. Global Eagle Entertainment (ENT) was downgraded to sell at TheStreet Ratings. Hospira (HSP) was upgraded at Deutsche Bank to buy from hold. Twelve-month price target is $61. Real sales, margin and cash flow recovery appear underway, Deutsche Bank said. Kraft Foods (KRFT) was downgraded at Deutsche Bank to hold from buy. Twelve-month price target is $59. Company is facing a challenging fundamental environment, Deutsche Bank said. Eli Lilly (LLY) was downgraded at Citigroup to neutral. Alimta risks are underappreciated in the market, Citigroup said. MeadWestvaco (MWV) was downgraded at UBS to sell from neutral. Twelve-month price target is $37. Valuation call based on high market expectations, UBS said. Qualcomm (QCOM) was downgraded at Bernstein to market perform from outperform. Twelve-month price target is $80. China solution remains uncertain, Bernstein said. Read More: Why the Fed Is Right to Sit Tight on Rates
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