NEW YORK (TheStreet) -- RATINGS CHANGES
American International Group (AIG) - Get American International Group, Inc. Report was initiated with a buy rating at Citigroup. Combined ratio could be overstated by 7%, which could add another 55 cents a share to annual earnings, Citi said.
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Bank of America (BAC) - Get Bank of America Corp Report was upgraded at Goldman Sachs to buy. Twelve-month price target is $19. As legal issues have passed, investors can now focus on the meaningful business improvement, Goldman said.
Celadon Group (CGI) was upgraded to buy at TheStreet Ratings.
Ford Motor (F) - Get Ford Motor Company Report was downgraded at Morgan Stanley to underweight. Twelve-month price target is $16. U.S. auto sales appear to be pulling forward future sales, Morgan Stanley said.
GoPro (GPRO) - Get GoPro, Inc. Class A Report was initiated with an outperform rating at FBN Securities. Twelve-month price target is $70. Company is a best-of-breed operator and can deliver rapid growth, FBN Securities said.
Infinera (INFN) - Get Infinera Corporation Report was upgraded at Jefferies to buy from hold. Twelve-month price target is $14. New WDM product line should drive growth in the coming quarters, Jefferies said.
Joy Global (JOY) was downgraded to hold at TheStreet Ratings.
Keryx (KERX) - Get Keryx Biopharmaceuticals, Inc. Report was downgraded at FBR Capital Markets to underperform from market perform. Company received a restrictive label for dialysis patients, FBR Capital Markets said.
L-3 Communications (LLL) - Get JX Luxventure Limited Report was upgraded at Oppenheimer to outperform from perform. Twelve-month price target is $128. Firm has been punished excessively for accounting issues, Oppenheimer said.
Pinnacle West (PNW) - Get Pinnacle West Capital Corporation Report was upgraded at Wells Fargo to outperform from market perform. Valuation call, based on recent positive regulatory developments, Wells Fargo said.
Sandisk (SNDK) was initiated with an outperform rating at FBN Securities. Twelve-month price target is $120. Company is growing well in the NAND flash market, FBN Securities said.
Synchrony Financial (SYF) - Get Synchrony Financial Report was initiated with a neutral rating at Nomura. Twelve-month price target is $23. Company is losing partners, as rising costs are compressing margins, Nomura said.
Tesla (TSLA) - Get Tesla Inc Report was initiated with an outperform rating at FBN Securities. Twelve-month price target is $325. Company is gaining market share and outselling other luxury sedans by a wide margin, FBN Securities said.
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This article was written by a staff member of TheStreet.