NEW YORK (TheStreet) -- RATINGS CHANGES

Apple (AAPL) - Get Apple Inc. (AAPL) Report was initiated with an outperform rating at FBR Capital Markets. Twelve-month price target is $185. Company can expand in China and drive growth in the wearables market, FBR Capital Markets said.

Advanced Micro Devices (AMD) - Get Advanced Micro Devices, Inc. Report was downgraded at Ascendiant to neutral from buy. Expect the company to be facing the same issues as Intel (INTC) - Get Intel Corporation (INTC) Report, Ascendiant said.

Continental Materials (CUO) - Get Continental Materials Corporation Report was upgraded to hold at TheStreet Ratings. You can view the full analysis from the report here: CUO Ratings Report.

GrubHub (GRUB) - Get Grubhub, Inc. Report was initiated with a buy rating at Sterne Agee. Twelve-month price target is $56. Company can continue to gain market share in a fragmented market, Sterne Agee said.

Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. (GS) Report was downgraded at Keefe Bruyette to market perform from outperform. Twelve-month price target was raised to $210 from $195. The firm raised estimates following the quarter, but Keefe Bruyette said the share price of GS already reflects the modestly improved estimates.

Northern Tier Energy (NTI) was upgraded at TheStreet Ratings to buy. You can view the full analysis from the report here: NTI Ratings Report.

TheStreet Recommends

Penn National (PENN) - Get Penn National Gaming, Inc. Report was upgraded at J.P. Morgan to buy from neutral. Valuation call, based on a 12-month price target of $18.

Sandisk (SNDK) was downgraded at Citigroup to neutral from buy. Twelve-month price target is $70. Company has execution risks and the recovery will take time, Citigroup said.

Travelers (TRV) - Get Travelers Companies, Inc. Report was downgraded at Barclays to equal weight from overweight. Twelve-month price target is unchanged at $117. After a decade of recommending TRV shares, Barclays lowered its rating based on its outlook for sustained headwinds in commercial P&C insurance and because shares are approaching full value.

Ulta Salon, Cosmetics & Fragrances (ULTA) - Get Ulta Beauty Inc Report was upgraded at Nomura to buy from neutral. Twelve-month price target was increased to $177 from $138. Industry-leading growth and consistency leaves room to continue growing into valuation, Nomura said.

Wayfair (W) - Get Wayfair, Inc. Class A Report was downgraded at Goldman Sachs to neutral from buy. Twelve-month price target is $36. Valuation call, as the stock is up 74% year to date, Goldman said.

Editor's note: To see analysts' stock comments and changes to price targets and earnings estimates, go to "Street Notes," which is available only to Real Money subscribers. To find out how to become a subscriber, please click here.

Follow TheStreet on Twitter and become a fan on Facebook.

This article was written by a staff member of TheStreet.