NEW YORK ( TheStreet) -- CHANGE IN RATINGS:Air T ( AIRT) upgraded to buy at TheStreet Ratings. Franklin Resources ( BEN) was upgraded at Keefe, Bruyette & Woods from market perform to outperform. Valuation call, based on a $160 price target, KBW said. Columbia Sportswear ( COLM) was downgraded at Citigroup to sell from neutral. $45 price target. Changing environment and negative upcoming catalysts, Citi said. Copart ( CPRT) was downgraded at Baird from outperform to neutral. Valuation call, based on a $36 price target, Baird said. Chevron ( CVX) was downgraded at UBS to neutral from buy. $120 price target. Valuation call, UBS said. Essex Property Trust ( ESS) upgraded to buy at TheStreet Ratings. Google ( GOOG) was downgraded at BMO Capital to market perform. $790 price target. Valuation call, as the stock is up 39% since mid-June, BMO Capital said. Hershey ( HSY) was downgraded at Goldman Sachs from buy to neutral. Valuation call, based on an $86 price target. Company was also cut from the Conviction Buy list, Goldman said. Mead Johnson ( MJN) was upgraded at Goldman Sachs from neutral to buy. Company was also placed on the Conviction List. $95 price target. Company should see a material growth rebound in China, Goldman said. Melco Crown Entertainment ( MPEL) was upgraded at Jefferies to hold from underperform. $22.70 price target. Solid premium mas growth momentum, Jefferies said. Merck ( MPEL) was downgraded at Morgan Stanley from equal-weight to underweight. Company may see near-term weakness in its clinical portfolio, Morgan Stanley said. Merck ( MRK) was downgraded at Leerink Swann from outperform to market perform.Company lacks near-term catalysts, Leerink Swann said. Norfolk Southern ( NSC) was upgraded at Dahlman Rose from hold to buy. $82 price target. Company is leveraged to higher met coal pricing, Dahlman Rose said. Perrigo ( PRGO) was upgraded at Morgan Stanley from equal-weight to overweight. $125 price target. Nutritionals overhang has been lifted and the company has strong growth prospects, Morgan Stanley said. Perrigo was upgraded at Canaccord from hold to buy. $128 price target. Company trades at a discount valuation and can deliver higher near-term earnings, Canaccord said. Charles Schwab ( SCHW) was downgraded at UBS to neutral from buy. $17 price target. Too much enthusiasm in valuation, UBS said.