Eli Lilly ( LLY) downgraded at Jefferies to Underperform from Hold, Jefferies said. $35 price target. Expect that solanezumab will fail its pivotal studies. Noble Energy ( NBL) upgraded at FBR from Market Perform to Outperform, FBR Capital Markets said. $120 price target. DJ Basin is not fully factored into the current price. Annaly Capital ( NLY) downgraded at Wells from Market Perform to Underperform, Wells Fargo said. Company will be hurt by a flatter yield curve. Newell Rubbermaid ( NWL) downgraded at Morgan Stanley from Overweight to Equal-weight, Morgan Stanley said. Macro risk should limit stock upside. Petrologistics ( PDH) upgraded at Citigroup to Buy from Neutral, Citigroup said. $12.75 price target. Propylene price expected to increase. PetSmart ( PETM) downgraded at Nomura from Buy to Neutral, Nomura said. Valuation call, based on a $70 price target. Salix Pharmaceuticals ( SLXP) downgraded at Cantor to Hold. $59 price target. Company is facing another pipeline setback with Relistor. Salix Pharmaceuticals downgraded at ThinkEquity from Buy to Hold, ThinkEquity said. $53 price target. Company lacks potential catalysts for the next year. Sandisk ( SNDK) rated new Hold at Needham. Stock is already factoring in a NAND market rebound. Domtar ( UFS) upgraded at JP Morgan to Overweight from Neutral, JP Morgan said. Pulp remains tail that wags the dog.
STOCK COMMENTS / EPS CHANGES
Arch Coal ( ACI) numbers raised at Credit Suisse. Shares of ACI now seen reaching $7, according to Credit Suisse. Estimates also increased, as the company is cutting costs. Neutral rating. Allstate ( ALL) estimates, target cut at Credit Suisse. Shares of ALL now seen reaching $38, according to Credit Suisse. Estimates also reduced, given lower auto insurance results. Outperform rating. Amazon.com ( AMZN) added to Conviction Buy List at Nomura. AMZN was placed on the Conviction Buy list, according to Nomura. Company continues to deliver strong sales growth. $285 price target. Abercrombie & Fitch ( ANF) estimates lowered at Piper through 2014, Piper Jaffray said. Store checks show higher clearance activity. Equal-weight rating. AptarGroup ( ATR) estimates, target lowered at Credit Suisse. Shares of ATR now seen reaching $52, according to Credit Suisse. Estimates also cut, given exposure to Europe and slower domestic growth. Neutral rating. Concur Technologies ( CNQR) target raised at Oppenheimer to $73, Oppenheimer said. Business momentum remains strong. Outperform rating.