TheStreet) -- CHANGE IN RATINGS Coverage of Acacia Research ( ACTG) was initiated with an equal weight rating at Barclays. $41 price target. Awaiting further top line visibility. Aeroflex ( ARX) was downgraded from buy to hold at Needham. Company cut guidance because of delays with military orders. Aeroflex was downgraded from outperform to perform at Oppenheimer. Stock has performed well since its IPO, but management just lowered guidance. Coverage of Avon ( AVP) was initiated with a neutral rating at Credit Suisse. $30 price target. Company will likely struggle to achieve its sales goals. Coverage of Estee Lauder ( EL) was started with a neutral rating atCredit Suisse. $95 price target. Stock is already pricing in the company's growth potential. Eagle Materials ( EXP) was downgraded from buy to neutral at Longbow Research. Company is seeing lower wallboard demand. Google ( GOOG) was downgraded to equal-weight at Morgan Stanley. $600 price target. Estimates also cut, as the company is investing more into its business. Coverage of Integra Lifesciences ( IART) was initiated with a neutral rating at Bank of America/Merrill Lynch. $50 price target. Bulk of margin opportunity remains 12 to 18 months out. Coverage of Johnson & Johnson ( JNJ) was initiated with a hold rating aty Deutsche Bank. $73 price target. Pharma pipeline is well understood. Coverage of MGM Resorts ( MGM) was initiated with an equal-weight rating at Morgan Stanley. $17 price target. Las Vegas trends are gradually improving, but free cash flow and debt reduction could fall short of expectations. Coverage of Motorola Mobility ( MMI) was initiated with a neutral rating at Robert Baird. $23 price target. Android momentum can drive growth, but consensus earnings expectations are likely too optimistic. Coverage of Marathon Oil ( MRO) was initiated with an equal-weight rating at Morgan Stanley. Valuation call, based on a $41 price target. Pioneer Natural ( PXD) was upgraded from hold to buy at Stifel Nicolaus. $110 price target. Oil prices appear to have stabilized. Stancorp Financial ( SFG) was downgraded from buy to hold, at Wunderlich Securities. $47 price target. Increased probability of lower operating profits.
TJX ( TJX) was upgraded from sell to hold at Citigroup. $56 price target. Little room for operating margins to expand. Virgin Media ( VMED) was downgraded from neutral to underperform at Bank of America Merrill Lynch. $25 price target. Insufficient attention to the looming structural issues. Coverage of U.S. Steel ( X) was started with a hold rating at Jefferies. $45 price target. Company has an unfavorable cost structure. End of report.