Analysts' Actions: XOM, ATU, DFS

NEW YORK ( TheStreet) -- CHANGE IN RATINGS

Associated Banc ( ASBC) downgraded at Morgan Stanley from Equal-weight to Underweight, Morgan Stanley said. Valuation call, based on a $13 price target.

CR Bard ( BCR) upgraded at Goldman from Sell to Neutral, Goldman Sachs said. $98 price target. End-market demand is stabilizing.

Baker Hughes ( BHI) numbers cut at Goldman. Shares of BHI now seen reaching $54, according to Goldman Sachs. Estimates also reduced, given the company's new guidance. Neutral rating.

Breeze-Eastern ( BZC) upgraded to buy at TheStreet Ratings.

CVB Financial ( CVBF) downgraded at Wunderlich from Buy to Hold, Wunderlich said. $12 price target. Valuation call, as the stock is up about 60% since October.

Deer Consumer Products ( DEER)downgraded to hold at TheStreet Ratings.

Education Management ( EDMC) upgraded at Morgan Stanley from Underweight to Equal-weight, Morgan Stanley said. $15 price target. Valuation call, as the stock is down 42% year-to-date.

Emerson Electric ( EMR) upgraded at Nomura to Buy, Nomura said. $64 price target. Issues with Network Power business have been exaggerated.

First Horizon ( FHN) downgraded at Morgan Stanley from Overweight to Equal-weight, Morgan Stanley said. $11 price target. Rise in treasury yields does not justify higher industry valuation.

First Republic ( FRC) upgraded at Morgan Stanley from Equal-weight to Overweight, Morgan Stanley said. $36 price target.

Annaly Capital ( NLY) downgraded at Sterne Agee from Neutral to Underperform, Sterne Agee said. $13.50 price target. Dividend and book value are facing increased risks.

PVH ( PVH) upgraded at Deutsche from Hold to Buy, Deutsche Bank said. $100 price target. Company can continue to deliver consistent growth, despite near-term challenges.

Rackspace ( RAX) downgraded at Goldman from Buy to Neutral, Goldman Sachs said. Valuation call, based on a $57 price target.

Western Digital ( WDC) upgraded at Needham from Buy to Strong Buy, Needham said. $66 price target. HGST purchase should help drive record profitability.

Exxon Mobil ( XOM) upgraded at JP Morgan from Underweight to Neutral, JP Morgan said. Valuation call, based on a $92 price target.

STOCK COMMENTS / EPS CHANGES

Actuant ( ATU) numbers raised at Jefferies. Shares of ATU now seen reaching $34, Jefferies said. Estimates also raised on favorable sales and margin trends. Buy rating.

Actuant estimates, target raised at BMO. Shares of ATU now seen reaching $35, according to BMO Capital. Estimates also increased, as the company is realizing higher margins. Outperform rating.

Actuant estimates, target raised at UBS. Shares of ATU now seen reaching $33, according to UBS. Estimates also increased as 2Q12 saw growing momentum. Buy rating.

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