Bank of America: Upgrades, Downgrades
Editor's Note: Green and red arrows refer to intraday stock price movement.
NEW YORK (
) --
CHANGE IN RATINGS
Archer-Daniels-Midland
(ADM) - Get Report
rated new Hold at Jefferies. $34 price target. Rising ethanol prices could weigh on growth.
Ann Taylor
(ANN)
rated new Perform at Oppenheimer. Stock is up 77% since the end of August and already pricing in better growth.
Bank of America
(BAC) - Get Report
downgraded at KBW from Outperform to Market Perform, Keefe, Bruyette & Woods said. Valuation call, based on a $14 price target.
BB&T
(BBT) - Get Report
downgraded at KBW to Market Perform, Keefe, Bruyette & Woods said. $27 price target. Stock appears fully valued at 1.8x tangible book value.
Charter Communications
(CHTR) - Get Report
rated new Sector Perform at FBR Capital Markets. $40 price target. Company lags its peers, but has re-emerged from bankruptcy in a much stronger financial position.
Ciena
(CIEN) - Get Report
rated new Buy at Deutsche Bank. $25 price target. Company should benefit from the coming carrier spending cycles.
Comerica
(CMA) - Get Report
downgraded at KBW from Outperform to Market Perform. Stock has limited upside potential from current levels. $44 price target.
Chipotle
(CMG) - Get Report
rated new Hold at Citigroup. $260 price target. Company faces difficult sales comparisons.
Consol Energy
(CNX) - Get Report
upgraded at BB&T from Hold to Buy. $55 price target. Company has multiple potential catalysts.
Darden Restaurants
(DRI) - Get Report
rated new Buy at Citigroup. $60 price target. Company should see sales accelerate through 2011.
Green Mountain
(GMCR)
rated new Hold at Keybanc. Stock already trades at a premium valuation.
SmartHeat
(HEAT)
initiated at Barclays with an Equal Weight rating and $6 price target. The company makes energy efficiency products, particularly for China, Barclays said. Expecting 25% revenue growth in 2011.
Heico
(HEI) - Get Report
rated new Market Perform at FBR. $60 price target. Performance continues to improve with each passing quarter.
Starwood Hotels
(HOT)
upgraded at Baird from Underperform to Neutral, Robert Baird said. $55 price target. Company is positioned to benefit from a recovery in lodging fundamentals.
Power-One
(PWER)
initiated at Barclays with an Equal Weight rating and $10 price target. Company well positioned to gain share in the inverter market, Barclays said.
Rackspace
(RAX)
downgraded at Goldman from Buy to Neutral. Valuation call, as the stock has gained more than 50% year-to-date. $28 price target.
Transocean
(RIG) - Get Report
downgraded at Morgan Stanley from Overweight to Equal-weight, Morgan Stanley said. Valuation call, based on an $80 price target.
Raytheon
(RTN) - Get Report
downgraded at FBR to Market Perform. Sector should be hurt by continued pressure on budgets.
Starbucks
(SBUX) - Get Report
rated new Buy at Citigroup. $40 price target. U.S. operations continue to turnaround and the international business appears to have bottomed.
Smithfield Foods
(SFD)
rated new Buy at Jefferies. $24 price target. Company should generate near-record margin levels in 2011 and pay down some of its debt.
Verisign
(VRSN) - Get Report
downgraded at Oppenheimer from Outperform to Perform, Oppenheimer said. Valuation call, as the stock traded through the company's $36 price target.
Wynn Resorts
(WYNN) - Get Report
upgraded at JP Morgan from Neutral to Overweight. $118 price target. Company continues to see solid momentum in Macau.
This article was written by a staff member of TheStreet.