NEW YORK ( TheStreet) -- CHANGE IN RATINGSAlcoa ( AA) was downgraded to hold at TheStreet Ratings. Adobe ( ADBE) was upgraded at Bank of America/Merrill Lynch to buy from neutral. $57 price target. Subscription transition is accelerating, BofA/Merrill said. Arthur J. Gallagher ( AJG) was downgraded at William Blair to market perform. Industry reversal in pricing will likely flatten, William Blair said. Ball ( BLL) was upgraded at Robert Baird to outperform from neutral. $50 price target. Stock has lagged, but the current risk/reward is favorable, Robert Baird said. Blackberry ( BBRY) was downgraded at Bernstein Research to underperform from market perform. $10 price target. Shipments will likely fall short of expectations next quarter and the stock is up 135% since the lows, Bernstein Research said. Brown & Brown ( BRO) was downgraded at William Blair to market perform. Industry organic growth will likely peak in 2013, William Blair said. Cliffs Natural ( CLF) was downgraded at Bank of America/Merrill Lynch to underperform from neutral. $16 price target. Company is leveraged to lower met coal prices, BofA/Merrill said.
Hyatt Hotels ( H) was downgraded to hold at TheStreet Ratings. ING ( ING) was initiated with a buy rating at UBS and a $12.67 price target. The company will become a fully restructured, well-funded bank in 24 months, UBS said. Coca-Cola ( KO) was initiated with an outperform rating at Credit Suisse. $48 price target. Asia and the U.S. can drive upside to 2013 and 2014 expectations, Credit Suisse said. News Corp. ( NWSA) downgraded at BTIG to neutral from buy. Valuation call, based on a $30 price target, BTIG said. PepsiCo ( PEP) was initiated with a neutral rating at Credit Suisse. Valuation call, based on an $87 price target, Credit Suisse said.
Rayonier ( RYN) was upgraded at DA Davidson to buy from neutral. Pullback has created a buying opportunity, DA Davidson said. $63 price target. Sonoco ( SON) was downgraded at Robert Baird to neutral from outperform. Valuation call, based on a $37 price target, Robert Baird said. Superior Energy ( SPN) was initiated with an outperform rating at Cowen. $34 price target. Company can execute on its international growth strategy, Cowen said.