NEW YORK (TheStreet) -- RATINGS CHANGES
Akamai Technologies (AKAM) - Get Reportwas upgraded at Deutsche Bank to buy from hold. Twelve-month price target is $79. Near-term capitulation in AKAM makes for an attractive entry point, as analysts are bullish on cloud security and Internet media, Deutsche Bank said.
AK Steel (AKS) - Get Report was upgraded at Credit Suisse to neutral from underperform. Twelve-month price target is $5.50. AK Steel confirmed that Magnetation debt is nonrecourse and that AKS has no legal commitments to provide further financial support to Magnetation, Credit Suisse said.
American Public Education (APEI) - Get Report was downgraded at Deutsche Bank to hold from buy. Twelve-month price target is $32. Deutsche Bank said its analysts were downgrading the stock on increasing enrollment volatility and margin pressure.
Compass Minerals (CMP) - Get Report was downgraded at J.P. Morgan to neutral from overweight. Twelve-month price target is $89. Estimates were also cut, as the company is investing more in future growth, J.P. Morgan said.
Marvell Technology (MRVL) - Get Report was downgraded at JMP Securities to market underperform from market perform. Twelve-month price target is $10. Marvell's largest customer, Western Digital (WDC) - Get Report, had a reporting shortfall, JMP Securities said. Marvell also made a preannouncement that revenue for its April quarter would be between $710 million and $740 million, due to PC and storage weakness with lower-than-expected emerging-market demand, JMP Securities also said. The midpoint of the company's revenue guidance is down 15% quarter over quarter, and 24% year over year. The consensus was for $815 million.
Oceaneering (OII) - Get Reportwas downgraded at Sterne Agee CRT to neutral from buy. Twelve-month price target is $55. Estimates were also cut, as the company has weak visibility in its core business, Sterne Agee CRT said.
Procter & Gamble (PG) - Get Report was downgraded at Societe Generale to hold from buy. Twelve-month price target is $86. Analysts no longer value PG on a premium to peers, and after more top-line weakness, focus is on portfolio transformation, Societe Generale said.
Whitewave (WWAV) was initiated with a sector-weight rating at Keybanc. Valuation call, as the company is trading at a 37% premium to its peers, Keybanc said.
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This article was written by a staff member of TheStreet.