NEW YORK (
CHANGE IN RATINGS
Automatic Data Processing
downgraded at UBS to Neutral from Buy, UBS said. $59 price target. Full valuation, limited near term catalysts.
Albany Molecular Research
upgraded to hold at TheStreet Ratings.
upgraded at JP Morgan from Neutral to Overweight, JP Morgan said. Company can grow faster than its peers and trades at a relative discount.
downgraded at Credit Suisse from Neutral to Underperform, Credit Suisse said. $60 price target. Company is seeing lower datacom spending and industrial growth in Europe.
rated new Buy at Citigroup. $27 price target. Valuation and expect FX litigation to dissipate some of risk premium.
downgraded at Piper from Neutral to Underweight, Piper Jaffray said. $27 price target. Growth could be hurt my macro headwinds.
upgraded at Hudson Square from Hold to Buy, Hudson Square said. $60 price target.
rated new Buy at Wunderlich. $38 price target. Company can continue to grow on its own or may eventually be acquired.
rated new Outperform at Credit Suisse. $43 price target. Company can continue to gain market share.
downgraded at ThinkEquity from Buy to Hold, ThinkEquity said. Valuation call, based on a $25 price target.
downgraded at KBW to Market Perform from Outperform, KBW said. $42 price target. Valuation and heightened economic concerns.
downgraded at Keybanc from Buy to Hold, Keybanc said. Valuation call.
rated new Neutral at Credit Suisse. $28 price target. Near and long term concerns overshadow underlying organic growth.
downgraded at BMO from Market Perform to Underperform, BMO Capital said. $2 price target. Do not expect new phones to gain much traction.
rated new Neutral at Citigroup. $50 price target. Struggle to see upside from current price.
downgraded at Citigroup to Sell from Neutral, Citigroup said. $30.50 price target. Modest growth can't support rich valuation.
Paychex downgraded at UBS to Neutral from Buy, UBS said. $35 price target. Full valuation, challenging backdrop.
rated new Buy at Citigroup. $54 price target. Valuation is compelling.
upgraded at BMO. $25 price target. Just for U program appears to be working with customers.
rated new Market Perform at BMO. $86 price target. Stock is already pricing in solid growth for the remainder of the year.
upgraded at Lazard from Neutral to Buy, Lazard said. Verizon deal makes a positive settlement with Motorola more likely $14 price target.
Time Warner Cable
upgraded at Hudson Square from Hold to Buy, Hudson Square said. $110 price target.
downgraded at Keybanc from Buy to Hold, Keybanc said. Estimates boosted, but the stock appears fully valued at current levels.
STOCK COMMENTS / EPS CHANGES
target lowered at Oppenheimer to $52, Oppenheimer said. Write down of MSSB. Outperform rating.
Discover Financial Services
numbers raised at Citigroup. Shares of DFS now seen reaching $41, Citigroup said. Estimates also increased on better credit. Neutral rating.
estimates, target increased at KBW. LEN estimates were raised through 2013, Keefe, Bruyette & Woods said. Company is realizing higher margins. Market Perform rating and new $31 price target.
numbers raised at Jefferies. Shares of LYB now seen reaching $61, Jefferies said. Estimates also raised on incremental improvements. Buy rating.
target raised at Jefferies to $13, Jefferies said. Improved commercial loan growth. Hold rating.
numbers raised at Guggenheim. Shares of PTEN now seen reaching $18, according to Guggenheim. Estimates also increased, as the company is cutting capital costs. Neutral rating.
added to Conviction Buy List at Goldman. Earnings growth should reaccelerate in the coming quarters. $43 price target.
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This article was written by a staff member of TheStreet.