GlaxoSmithKline: Upgrades, Downgrades

GlaxoSmithKline downgraded at Jefferies from Buy to Hold. Risk is increasing that Avandia could be removed from the market.
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NEW YORK (TheStreet) -- CHANGE IN RATINGS

Barnes & Noble

(BKS) - Get Report

downgraded at BofA/Merrill to Underperform from Neutral on uncertainty surrounding the company's digital initiatives and a deteriorating balance sheet. Price target reduced to $13 from $15.

Danaher

(DHR) - Get Report

rated new Buy at Citigroup. $47 price target. Recent acquisitions boost the company's growth profile.

Emerson Electric

(EMR) - Get Report

rated new Hold at Citigroup. $53 price target. Company appears to have overpaid for a recent acquisition and is at risk if growth in China slows down.

General Electric

(GE) - Get Report

rated new Buy at Citigroup. $19 price target. Company should be able to rescue its earnings growth.

GlaxoSmithKline

(GSK) - Get Report

downgraded at Jefferies from Buy to Hold. Risk is increasing that Avandia could be removed from the market.

Honeywell

(HON) - Get Report

rated new Hold at Citigroup. $45 price target. Company continues to face headwinds in aerospace and commercial construction.

3M

(MMM) - Get Report

rated new Hold at Citigroup. Valuation call, based on a $90 price target.

Micron Technology

(MU) - Get Report

downgraded at Goldman from Buy to Neutral. $7.85 price target. Tablet demand is weighing heavily on the PC market. Estimates also lowered.

Maxim Integrated

(MXIM) - Get Report

downgraded at Goldman from Neutral to Sell. $16 price target. Valuation call. Stock has a 5% dividend yield, but also faces margin compression.

Netlogic Microsystem

(NETL) - Get Report

upgraded at UBS from Neutral to Buy. $33.50 price target. Stock has pulled back 25% since earnings, and the company should deliver solid fourth-quarter growth.

Nalco

(NLC)

rated new Buy at Janney. $30 price target. Company is leveraged to continued growth in the water sector.

Nokia

(NOK) - Get Report

downgraded at Citigroup from Hold to Sell. $7.93 price target. Company should not trade at a premium to its peers.

NXP Semiconductors

(NXPI) - Get Report

initiated at Barclays with an Overweight rating and $18 price target. Above industry sales growth combined with solid margin expansion drives positive view.

NXP Semiconductors

(NXPI) - Get Report

initiated at Credit Suisse with an Outperform rating and $16 price target. Key drivers: margin expansion and financial deleveraging.

Reynolds American

(RAI)

upgraded at BofA/Merrill to Neutral from Underperform on healthy volume trends. Price target jumped to $59 from $52.

Rowan

(RDC)

upgraded at UBS from Neutral to Buy. $42 price target. High specification jackup dayrates are moving up ahead of expectations.

Tyco

(TYC)

downgraded at BofA/Merrill to Neutral from Buy, valuation call. No change to $45 price target.

Tyco

(TYC)

rated new Buy at Citigroup. $46 price target. Management is improving the company's operating metrics.

United Technologies

rated new Hold at Citigroup. $76 price target. Company is a late-cycle industrial play.

STOCK COMMENTS / EPS CHANGES

Ace Limited

(ACE)

estimates increased at Morgan Stanley through 2012. Two recent acquisitions should add to earnings. Overweight rating.

Best Buy

(BBY) - Get Report

price target boosted at Barclays to $49 from $47 as the company may be able to increase margins even in the face of a weak sales environment. Reiterate Overweight rating.

Best Buy

(BBY) - Get Report

estimates boosted at Credit Suisse. BBY 2011 and 2012 EPS estimates increased to $3.58 and $3.94, respectively. BBY is the most undervalued large cap in our coverage. Maintain Outperform rating and $48 price target.

Blackrock

(BLK) - Get Report

estimates, target raised at Citigroup. Shares of BLK now seen reaching $175. Estimates also increased, given better investment returns and asset flow expectations. Hold rating.

Comerica

(CMA) - Get Report

price target cut at Credit Suisse. CMA price target trimmed by a dollar to $40 on more cautious loan growth. Maintain Neutral rating.

Computer Sciences

(CSC)

target lowered at Kaufman. Shares of CSC now seen reaching $48. IT outsourcing and systems integrations face growth headwinds. Hold rating.

Corning

(GLW) - Get Report

estimates, target lowered at Citigroup. GLW estimates were cut through 2011. Company cut its guidance for glass sales. Buy rating and new $22.50 price target.

Kroger

(KR) - Get Report

price target lowered at Barclays to $24 from $26. Stock will have trouble moving up meaningfully until the external environment shows signs of improvement, Barclays said. Maintain Overweight rating.

Kroger

(KR) - Get Report

estimates, target upped at UBS. KR estimates were boosted through 2012. Company continues to execute well in a difficult environment. Neutral rating and new $23 price target.

Altria

(MO) - Get Report

price target boosted at BofA/Merrill to $26 from $24. We remain attracted their strong dividend and improving volume trends. Reiterate Buy rating.

Molina Healthcare

(MOH) - Get Report

price target lifted at Barclays. MOH price target increased to $30 from $28 as the company raised guidance at its investor day. 2010 and 2011 EPS estimates increased to $1.70 and $1.80, respectively. Maintain Equal Weight rating.

Myriad Genetics

(MYGN) - Get Report

numbers increased at Citigroup. Shares of MYGN now seen reaching $19. Estimates also raised, as the company has pledged to repurchase more stock. Hold rating.

Nuvasive

(NUVA) - Get Report

estimates cut at Goldman through 2013. Company has limited end-market visibility. Neutral rating and $34 price target.

Pall

(PLL) - Get Report

estimates, target boosted at Jefferies. Shares of PLL now seen reaching $45. Estimates also upped, given the company's late-cycle exposure. Buy rating.

Sonic

(SONC)

price target lower at Barclays. SONC price target trimmed by a dollar to $8 as the company offered 2011 guidance with limited visibility. Reiterate Equal Weight rating.

Steel Dynamics

(STLD) - Get Report

numbers reduced at UBS. Estimates were cut through 2011. Company is seeing falling steel prices and lower scrap volumes. Buy rating and new $20 price target.

Skyworks Solutions

(SWKS) - Get Report

numbers raised at Oppenheimer. Shares of SWKS now seen reaching $25. Estimates also increased, following positive channel checks. Outperform rating.

Treehouse Foods

(THS) - Get Report

numbers boosted at Citigroup. Shares of THS now seen reaching $46. Estimates also upped, as the S.T. Specialty acquisition should add to earnings. Hold rating.

Dealertrack

(TRAK)

price target lifted at Barclays. TRAK shares now seen reaching $18, up from $17. Improved visibility for growth in the applications business was takeaway from investor meeting. Equal Weight rating.

This article was written by a staff member of TheStreet.