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Google: Analysts' Upgrades, Downgrades

Google price target lowered at BofA/Merrill to reflect USD appreciation.
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NEW YORK (

TheStreet

) --

CHANGE IN RATINGS

Atwood Oceanics

(ATW)

downgraded at Goldman from Neutral to Sell. Company will be hurt by lower deepwater drilling rates.

Boeing

(BA)

rated new Buy at Deutsche Bank. $80 price target. Earnings should rebound along with production.

Baker Hughes

(BHI)

downgraded at FBR from Outperform to Market Perform. $47 price target. Drilling moratorium could cause further delays in the Gulf.

Broadcom

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downgraded at Susquehanna to Neutral. Checks suggest a slowdown in end-market demand.

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Canadian Pacific Railways

(CP)

upgraded at Credit Suisse to Outperform from Underperform. CP is in position to close the gap in operating profits between itself and the other North American Class 1 railroads. Price target surged to $75 from $59.

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CVS/Caremark

(CVS)

downgraded at Morgan Stanley from Overweight to equal-weight. Dispute with WAG highlights risks to the company's business model.

Cypress Semiconductor

(CY)

rated new Neutral at Janney Montgomery. $12 price target. Legacy business headwinds will likely offset growth in new products.

Diamond Offshore

(DO)

downgraded at Goldman from Neutral to Sell. Company is likely to be hurt by lower dayrates, following the Gulf spill.

Diamond Offshore

(DO)

downgraded at FBR to Underperform from Market Perform. $54 price target. Deepwater moratorium will hurt business.

General Dynamics

(GD)

rated new Buy at Deutsche Bank. $84 price target. Company has attractive leverage to an economic recovery.

Intel

(INTC)

downgraded at Susquehanna to Neutral. PC sales could slow down, heading into the third quarter.

Marvell Technology

(MRVL)

rated new Buy at Janney Montgomery. $27 price target. Company should see accelerated disk-drive and consumer growth.

Nabors Industries

(NBR)

upgraded at Goldman from Neutral to Buy. Company is leveraged to increased land drilling across the globe.

Noble

(NE)

downgraded at FBR from Outperform to Market Perform. $36 price target. Drilling moratorium will hurt business.

Northrop Grumman

(NOC)

rated new Hold at Deutsche. $72 price target. Company faces long-term defense budget pressures.

Nvidia

(NVDA)

rated new Neutral at Janney Montgomery. $12 price target. Company can deliver modest growth over the next several quarters.

Patterson

(PDCO)

rated new Buy at Jefferies. $36 price target. Company should see improving utilization across the board, as the economy improves.

Robert Half Int'l.

(RHI)

upgraded at Morgan Stanley to Equal-weight from Underweight. Stock is down 29% from April, and has late-cycle recovery characteristics.

Tellabs

(TLAB)

downgraded at Morgan Stanley to Equal-weight. Estimates also cut, as the company appears to be losing market share in broadband data.

STOCK COMMENTS / EPS CHANGES

Apple

(AAPL)

target raised at Morgan Stanley Shares of AAPL now seen reaching $332. Company continues to see higher iPad sales. Overweight rating.

Altera

(ALTR)

estimates, target boosted at Goldman. Shares of ALTR now seen reaching $25. Estimates also upped, as demand should continue to build in the coming quarters. Neutral rating.

Amazon

(AMZN)

price target cut at BofA/Merrill to $150 from $155 to reflect U.S. dollar appreciation since April. Reiterate Buy rating.

Bristol-Myers

(BMY)

estimates increased at UBS. BMY estimates were raised through 2011. Company had a good showing with Sprycel data at ASCO. Neutral rating and $26 price target.

CSX Corp

(CSX)

price target higher at Credit Suisse. CSX price target jumped to $74 from $69 on strong 2011 forecasts. Maintain Outperform rating.

First Solar

(FSLR)

price target lower at Citi to $125 from $135 on foreign exchange weakness. Maintain Hold rating.

Google

(GOOG)

price target lowered at BofA/Merrill to $630 from $685 to reflect US dollar appreciation since April. Buy rating.

Medtronic

(MDT)

target reduced at Goldman to $43. Peer group is receiving a lower earnings multiple. Neutral rating.

Noble Energy

(NBL)

price target trimmed at Barclays to $86 from $87. A premium valuation is warranted in light of the expected superior growth in next several years. Maintain Overweight rating.

NetLogic

(NETL)

target lowered at UBS. Shares of NETL now seen reaching $34.50. Company is facing increased competition. Buy rating.

New York Community Bancorp

(NYB)

price target boosted at Barclays to $17 from $15 as AmTrust and Desert Hill acquisitions are performing better than expected. Reiterate Equal Weight rating.

Tractor Supply Company

(TSCO)

price target higher at BofA/Merrill by a dollar to $75 on an expected strong spring selling season. Estimates raised through 2012. Reiterate Buy rating.

United Parcel Service

(UPS)

price target lower at Credit Suisse to $74 from $79 on projected growth. Maintain Neutral rating.

Yahoo!

(YHOO)

price target trimmed at BofA/Merrill by a dollar to $20 to reflect U.S. dollar appreciation since April. Reiterate Buy rating.

This article was written by a staff member of TheStreet.com.