Tuesday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

American Eagle (AEO) upgraded at Cowen to Outperform. Company posted strong August sales, and should be able to deliver 15% earnings growth.

American Financial Group (AFG) upgraded at Credit Suisse to Outperform from Neutral based on valuation. Cites company has improved profitability and deleveraged its balance sheet. Lowered target price to $33 from $38.

AGCO (AG) upgraded at Credit Suisse to Neutral from Underperform based on margin expansion opportunities and very strong farm cycle. Raised target price to $46 from $17.

Bristol-Myers Squibb (BMY) downgraded at Goldman to Sell from Neutral due to valuation. Although management has made attractive moves to lower costs and invest in pipeline, valuation continues to run ahead of fundamentals. Price target at $30. ...