CHANGE IN RATINGSAlliant Techsystems ( ATK) downgraded at Goldman Sachs to Sell from Neutral due to high valuation, mediocre fundamentals and lack of potential catalysts. Note that shares trade at a substantial premium to Defense peers despite growth that is likely to be in-line with group. See limited potential for improved guidance during next earnings report. Price target cut to $56 from $73. Beckman Coulter ( BEC) upgraded at Barclays from Equal-weight to Overweight. $55 price target. Company's recurring revenue model provides both stability and visibility.
Waddell & Reed ( WDR) upgraded at Goldman Sachs to Buy from Neutral. Relative and absolute performance for company's funds improved during the first quarter. Also note potential to capture further retail share in asset management space. Price target raised to $18 from $12.