NEW YORK (TheStreet) -- RATINGS CHANGES
Boeing (BA) was downgraded to sell from neutral at Goldman Sachs. $132 12-month price target. Demand and free cash flow could disappoint, Goldman said.
Colgate-Palmolive (CL) was upgraded to buy from neutral by Citigroup. $81 12-month price target. The company can deliver best-in-class growth and deserves a higher multiple, said Citi.
CSX (CSX) was initiated with an overweight rating at J.P. Morgan. $41 12-month price target. This was a valuation call, as the company is better positioned than Norfolk in the coal market, J.P. Morgan said.
Quest Diagnostics (DGX) was downgraded to underperform by Bank of America/Merrill Lynch. $68 12-month price target. The company appears to be growing slower than LabCorp, its top competitor, BofA/Merrill said.
Laboratory Corp. (LH) was upgraded to overweight from neutral at Piper Jaffray. $144 12-month price target. Volumes are improving and Covance makes a good strategic fit, said Piper.
Norfolk Southern (NSC) was initiated with an underweight rating at J.P. Morgan. $107 12-month price target. The company is leveraged to declining met coal exports, said J.P. Morgan.
Precision Castparts (PCP) was downgraded to neutral from buy at Goldman Sachs. $223 12-month price target. Organic growth is decelerating and the company has energy exposure, Goldman said.
Penn National (PENN) was upgraded to buy from neutral at Bank of America/Merrill Lynch. $20 12-month price target. Company is leveraged to a recovery in the regional gaming markets, BofA/Merrill 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.
This article was written by a staff member of TheStreet.