NEW YORK ( TheStreet) -- CHANGE IN RATINGS Adobe Systems ( ADBE) upgraded at JMP from Underperform to Outperform, JMP Securities said. $42 price target. Company is successfully moving its offerings over to the cloud. Adtran ( ADTN) rated new Neutral at JP Morgan. $19 price target. Core business could continue to decline in 2013. Burger King ( BKW) rated new Neutral at BofA/Merrill. Valuation call, based on an $19.50 price target. Cienna ( CIEN) downgraded at BMO Capital Markets to Market Perform from Outperform, BMO Capital Markets said. $15 price target. Conversion to revenue could slow. Clearwire ( CLWR) downgraded at Guggenheim to Neutral. $3 price target. It is uncertain if there will be a materially higher bid than Sprint's offer of $2.90. Carpenter Technology ( CRS) initiated at Goldman Sachs as Buy. $63 price target. Margin/volume expansion story. Endo Health ( ENDP) downgraded at Needham from Hold to Underperform, Needham said. Core franchises will likely continue to deteriorate. Ensco ( ESV) upgraded at Jefferies to Buy from Hold, Jefferies said. $70 price target. Strong free cash flow. Exterran Partners ( EXLP) downgraded to hold at TheStreet Ratings. Halcon Resources ( HK) rated new Outperform at Baird. $10 price target. Company can deliver industry-leading growth in 2013. Hornbeck ( HOS) rated new Buy at Citigroup. $60 price target. Aggressive pursuit of up to a 64 vessel construction program. Microsoft ( MSFT) rated new Market Perform at BMO. $30 price target. Weak PC market and lower tablet demand will likely weigh on shares. Micron ( MU) upgraded at Drexel Hamilton to Buy, Drexel Hamilton said. $8 price target. Spot memory prices continue to surge. Newcastle Investment ( NCT) rated new Buy at UBS. $10 price target. Ties to Fortress and Nationstar provide competitive advantage. National Oilwell ( NOV) downgraded at Guggenheim from Buy to Neutral, Guggenheim said. $71 price target. Estimates also cut, as rig counts could fall in North America. Six Flags ( SIX) rated new Outperform at Wells. Company generates strong recurring cashflow and its business has high barriers to entry. SPX ( SPW) upgraded at Nomura to Buy, Nomura said. $80 price target. Stock is attractive, following the recent pullback. TD Ameritrade ( AMTD) upgraded to buy at TheStreet Ratings. Tidewater ( TDW) rated new Buy at Citigroup. $62 price target. Committed capital to expanding fleet. TIVO ( TIVO) initiated at Goldman Sachs aS new Buy. $15 price target. Well positioned to target consumers who desire a premium experience. Waddell & Reed ( WDR) rated new Equal-weight at Morgan Stanley. $35 price target. Stock is pricing in both expansion opportunities and flow headwinds. Wynn Resorts ( WYNN) downgraded at UBS to Neutral from Buy, UBS said. $118 price target. No major catalysts and Cotai parcel a challenge.
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STOCK COMMENTS / EPS CHANGESApple ( AAPL) numbers cut at UBS. Shares of AAPL now seen reaching $700, UBS said. Estimates also lowered on slowing iPhone build rates. Buy rating. CVS Caremark ( CVS) numbers increased at Lazard. CVS estimates were raised through 2014, Lazard said. Company boosted its guidance. Buy rating and new $48.50 price target. Diamond Offshore Drilling ( DO) numbers lowered at Jefferies. Shares of DO now seen reaching $73, Jefferies said. Estimates also lowered on valuation. Hold rating. Phillips 66 ( PSX) numbers raised at Oppenheimer. Shares of PSX now seen reaching $60, Oppenheimer said. Estimates also raised on bullish analyst meeting. Outperform rating.
STRATEGY CALLS / MARKET CALLSS&P 500 ( SPX) target increased at JP Morgan. SPX now seen reaching 1,440 by the end of the year. Investors will likely continue to chase beta. >To submit a news tip, email: email@example.com.
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