Analysts' Actions: IBM ADSK AEO BIG HD
NEW YORK (
) --
CHANGE IN RATINGS
Autodesk
(ADSK) - Get Autodesk, Inc. Report
downgraded at BofA/Merrill to Underperform, Bank of America/Merrill Lynch said. $32 price target. Estimates also cut, as growth headwinds will likely persist.
Autodesk downgraded at Canaccord to Hold. $32 price target. Estimates also cut, given the company's new guidance.
Autodesk downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $32.50 price target. Growth thesis has eroded.
American Eagle
(AEO) - Get American Eagle Outfitters, Inc. Report
upgraded at BofA/Merrill from Underperform to Neutral, Bank of America/Merrill Lynch said. $24 price target. Estimates also boosted, given lower competitive pressures.
Alexion Pharmaceuticals
(ALXN) - Get Alexion Pharmaceuticals, Inc. Report
rated new Hold at ThinkEquity. $105 price target. Soliris sales growth may begin to mature.
Aruba Networks
TheStreet Recommends
(ARUN)
downgraded to sell at TheStreet Ratings.
Sothebys
upgraded to buy at TheStreet Ratings.
Big Lots
(BIG) - Get Big Lots, Inc. Report
downgraded at Benchmark from Buy to Hold, Benchmark said. $33 price target. Consumers are seeing lower discretionary income.
Bristol-Myers
(BMY) - Get Bristol-Myers Squibb Company Report
upgraded at BofA/Merrill to Buy, Bank of America/Merrill Lynch said. $36 price target. Valuation call, as the stock is down 9% year-to-date.
Federated Investors
(FII) - Get Federated Investors, Inc. Class B Report
upgraded at Citigroup to Buy, Citigroup said. $25 price target. High money market exposure is a plus in the current environment.
Merck
(MRK) - Get Merck & Co., Inc. Report
downgraded at BofA/Merrill from Buy to Neutral, Bank of America/Merrill Lynch said. $45 price target. Valuation call, as the stock is up 14% year-to-date.
Swift Transportation
(SWFT)
rated new Hold at Dahlman. Have near-term concerns about the trucking industry.
TCF Financial
(TCB)
upgraded at BMO to Outperform, BMO Capital said. $13 price target. Management is successfully turning the business around.
Tripadvisor
(TRIP) - Get TripAdvisor, Inc. Report
upgraded at Citigroup from Neutral to Buy. $44 price target. Valuation call, as the stock is down 30% from its July highs.
STOCK COMMENTS / EPS CHANGES
Autodesk
(ADSK) - Get Autodesk, Inc. Report
numbers lowered at Jefferies. Shares of ADSK now seen reaching $37, Jefferies said. Estimates also lowered on a big step back. Buy rating.
Aruba Networks
(ARUN)
numbers upped at Lazard. ARUN estimates were boosted through 2013, Lazard said. Company boosted its guidance. Buy rating and new $24 price target.
Allegheny Technologies
(ATI) - Get Allegheny Technologies Incorporated Report
numbers cut at Keybanc. ATI estimates were reduced through 2013, Keybanc said. Company is leveraged to slower macro growth. Buy rating and new $45 price target.
Globe Specialty Metals
(GSM) - Get Ferroglobe PLC Report
numbers raised at Oppenheimer. Shares of GSM now seen reaching $17, Oppenheimer said. Estimates also raised on price stabilization. Outperform rating.
Hain Celestial
(HAIN) - Get Hain Celestial Group, Inc. Report
target raised at Jefferies. Shares of HAIN now seen reaching $80, Jefferies said. Strong fourth quarter driven by the U.S. Buy rating.
Home Depot
(HD) - Get Home Depot, Inc. Report
target raised at BofA/Merrill to $70, according to Bank of America/Merrill Lynch said. Multi-year renovation cycle remains intact. Buy rating.
IBM
(IBM) - Get International Business Machines Corporation Report
estimates, target reduced at JP Morgan. IBM estimates were cut through 2013, JP Morgan said. Company is leveraged to slower growth overseas. Overweight rating and new $215 price target.
Olin
(OLN) - Get Olin Corporation Report
estimates, target increased at UBS. OLN estimates were raised through 2013, UBS said. Estimates also raised, as the KA Steel purchase should add to earnings. Neutral rating and new $22 price target.
Watson Pharmaceuticals
(WPI)
numbers boosted at Morgan Stanley. Shares of WPI now seen reaching $87, according to Morgan Stanley. Estimates also upped, given the FDA approval of generic Lidoderm. Overweight rating.
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