NEW YORK ( TheStreet) -- CHANGE IN RATINGS AO Smith ( AOS) downgraded at Keybanc to Hold. Valuation call, as the stock has gained 24% year-to-date. AO Smith downgraded at Sterne Agee to Neutral, Sterne Agee said. Valuation call, based on a $55 price target. AO Smith downgraded at Wedbush from Outperform to Neutral, Wedbush said. $51 price target. China appears to be slowing down. Athenahealth ( ATHN) upgraded at Citigroup to Buy from Neutral, Citigroup said. $110 price target. HMA deal takes enterprise business to light speed. American Express ( AXP) downgraded at Guggenheim from Buy to Neutral, Guggenheim said. Estimates also cut, as global spending trends appear to be weakening. $63 price target. 3D Systems ( DDD) downgraded at JP Morgan from Neutral to Underweight, JP Morgan said. $34.50 price target. Valuation call, as the stock has gained 148% year-to-date. DSW ( DSW) rated new Hold at Benchmark. $60 price target. Uncertain macro environment could weigh on margins. East West Bancorp ( EWBC) downgraded at Sterne Agee to Neutral, Sterne Agee said. Valuation call, as the company lacks near-term catalysts. $25 price target. Knight Capital ( KCG) ( KCG) downgraded at KBW to Market Perform, Keefe, Bruyette & Woods said. $12 price target. Estimates also cut, as the company is realizing lower profitability. News Corp ( NWS.a) upgraded at Citigroup to Buy from Neutral, Citigroup said. $26 price target. The split simplifies and highlights value. Public Service Enterprise Group ( PEG) downgraded at Citigroup to Neutral from Buy, Citigroup said. $33 price target. Valuation call. Quanta Services ( PWR) downgraded at Goldman to Sell from Neutral, Goldman Sachs said. Risk/reward skewed negatively. Sally Beauty ( SBH) upgraded at Caris from Above Average to Buy. Stock is attractive, following a 7% decline. Company may soon return cash to shareholders. Skyworks ( SWKS) upgraded at Sterne Agee to Buy, Sterne Agee said. $31 price target. Handset market should improve in the second half of the year. Skyworks downgraded at Needham from Buy to Hold, Needham said. Valuation call, as the company is realizing lower gross margin. Theravance ( THRX) downgraded at Bernstein from Outperform to Market Perform, Bernstein said. Valuation call, based on a $28 price target.