RATINGS CHANGES

Ariad Pharmaceuticals (ARIA) was downgraded to market perform from outperform at JMP Securities. The valuation is less attractive, as the company is seeing lower prescription trends, JMP said. 

Chesapeake Energy (CHK) - Get Report was upgraded to sector perform from underperform at RBC Capital. $8 price target. The company is cutting costs and can improve margins in the next several quarters, RBC said. 

Cree (CREE) - Get Report was downgraded to sell at TheStreet Ratings. You can view the full analysis from the report here: CREE.

FirstEnergy (FE) - Get Report was upgraded to buy from hold at Deutsche Bank. $38 price target. The company recently received regulatory victories and has attractive upside potential, Deutsche said. 

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Fitbit (FIT) - Get Report was downgraded to sell at TheStreet Ratings. You can view the full analysis from the report here: FIT

McCormick (MKC) - Get Report was upgraded to outperform from neutral at Credit Suisse. $111 price target. Market share growth is poised to accelerate, Credit Suisse said. 

Time Warner (TWX) was upgraded to outperform from neutral at Wedbush. $105 price target. The stock is trading at a 19% discount to AT&T's offer, but the deal will likely go though, Wedbush said. 

VF Corp. (VFC) - Get Report was downgraded to hold, Deutsche Bank said. $57 price target. Channel inventory is high and sales growth will likely be muted, Deutsche said. 

This article was written by a staff member of TheStreet.