Cadence Design (CDNS) - Get Cadence Design Systems, Inc. Report was upgraded to buy from neutral at DA Davidson. $25 price target. This was a valuation call, as the stock is down 8% year-to-date, said DA Davidson.
Esterline (ESL) was downgraded to hold at Drexel Hamilton. The company is leveraged to slower macro growth, Drexel said.
Shutterfly (SFLY) - Get Shutterfly, Inc. Report was downgraded to neutral from buy at Bank of America/Merrill Lynch. $44 price target. Growth is decelerating and the company lacks near-term catalysts, BofA/Merrill said.
Wabtec (WAB) - Get Westinghouse Air Brake Technologies Corporation (WAB) Report was downgraded to neutral from buy at Goldman Sachs. $68 price target. Freight headwinds are accelerating, Goldman said.
This article was written by a staff member of TheStreet.