3M: Analysts' Upgrades, Downgrades
Editor's Note: Green and red arrows refer to intraday stock price movement.
NEW YORK (
) --
CHANGE IN RATINGS
Arch Coal
(ACI) - Get Report
downgraded at Citigroup from Buy to Hold. Valuation call, based on a $33 price target.
Altera
(ALTR) - Get Report
rated new Neutral at Janney Montgomery. $33 price target. Consensus estimates appear high, as end-market demand remains soft.
Alpha Natural
(ANR)
downgraded at Citigroup from Buy to Hold. $58 price target. Stock is already pricing in higher near-term growth.
Bio-Rad
(BIO) - Get Report
upgraded at Leerink from Outperform to Market Perform. Estimates also boosted, given the company's recent debt refinancing.
CBOE Holdings
(CBOE) - Get Report
rated new Hold at Jefferies. $26 price target. Valuation call, as the stock is already pricing in near-term growth expectations.
CSX
(CSX) - Get Report
rated new Neutral at Susquehanna Financial. $75 price target. Company lacks near-term catalysts.
Dominion Resources
(D) - Get Report
upgraded at Morgan Stanley from Underweight to Equal-weight. Valuation call, based on a $42.75 price target.
Entergy
(ETR) - Get Report
downgraded at Morgan Stanley from Overweight to Equal-weight. Company is exposed to natural gas and power prices. $77 price target.
Foster Wheeler
(FWLT)
upgraded at Goldman to Buy. $38 price target. Expectations are low, prospects are improving and the company is buying back stock.
Intersil
(ISIL)
upgraded at Canaccord from Hold to Buy. $18 price target. Company is likely to gain market share in the next generation of netbooks.
Johnson Controls
(JCI) - Get Report
downgraded at Deutsche from Buy to Hold, Deutsche Bank said. Valuation call, based on a $40 price target.
KBR
(KBR) - Get Report
upgraded at Goldman to Buy, Goldman Sachs said. $36 price target. Company has several potential catalysts.
3M
(MMM) - Get Report
downgraded at Goldman from Buy to Neutral, Goldman Sachs said. $93 price target. Company is facing near-term earnings headwinds.
3M
(MMM) - Get Report
target lowered at FBR to $98, according to FBR Capital Markets. Company has limited near-term earnings visibility. Outperform rating.
Nextera Energy
(NEE) - Get Report
downgraded at Morgan Stanley from Overweight to Equal-weight. $54 price target. Company is being hurt by lower energy prices.
Netflix
(NFLX) - Get Report
downgraded at Jefferies from Buy to Hold. Valuation call, as the stock is up 270% since the beginning of the year. $195 price target.
Oceaneering International
(OII) - Get Report
upgraded at Credit Suisse to Outperform from Neutral on unrealized products potential, Credit Suisse said. Price target surged to $93 from $65.
Patriot Coal
( PCX) downgraded at Citigroup to Sell. Company is likely to lose money and have negative cash flow in 2011.
Union Pacific
(UNP) - Get Report
rated new Positive at Susquehanna Financial. $115 price target. Company is a market leader and should continue to outperform.
Varian Medical
(VAR) - Get Report
downgraded at Piper from Overweight to Neutral. Valuation call, based on a $70 price target.
Vivus
(VVUS) - Get Report
upgraded at BofA/Merrill to Buy from Underperform as the outlook for their obesity drug (Qnexa) getting approved has improved, Bank of America/Merrill Lynch said. Price target increased to $12 from $6.
Werner Enterprises
(WERN) - Get Report
rated new Positive at Susquehanna. $28 price target. Company is in the midst of a multi-year turnaround.
Weyerhaeuser
(WY) - Get Report
downgraded at UBS from Buy to Neutral. Valuation call, based on an $18 price target.
Xilinx
(XLNX) - Get Report
rated new Neutral at Janney Montgomery. $25 price target. Company could lose near-term market share and is facing an inventory correction.
This article was written by a staff member of TheStreet.