NEW YORK ( TheStreet) -- CHANGE IN RATINGSBarnes & Noble ( BKS) 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) rated new Buy at Citigroup. $47 price target. Recent acquisitions boost the company's growth profile. Emerson Electric ( EMR) 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) rated new Buy at Citigroup. $19 price target. Company should be able to rescue its earnings growth. GlaxoSmithKline ( GSK) downgraded at Jefferies from Buy to Hold. Risk is increasing that Avandia could be removed from the market. Honeywell ( HON) rated new Hold at Citigroup. $45 price target. Company continues to face headwinds in aerospace and commercial construction. 3M ( MMM) rated new Hold at Citigroup. Valuation call, based on a $90 price target. Micron Technology ( MU) 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) 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) 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) downgraded at Citigroup from Hold to Sell. $7.93 price target. Company should not trade at a premium to its peers. NXP Semiconductors ( NXPI) 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) 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 ( UTX) rated new Hold at Citigroup. $76 price target. Company is a late-cycle industrial play.
Pall ( PLL) 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) 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) numbers raised at Oppenheimer. Shares of SWKS now seen reaching $25. Estimates also increased, following positive channel checks. Outperform rating. Treehouse Foods ( THS) 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.