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.