NEW YORK ( TheStreet) -- CHANGE IN RATINGS:Alon USA ( ALJ) was downgraded at Goldman Sachs from buy to neutral. Valuation call, as the stock is up more than 33% since late December, Goldman said. $21 price target. Associated Banc-Corp ( ASBC) was downgraded at Oppenheimer to perform from outperform. Market has recognized turnaround, Oppenheimer said. Associated Banc-Corp was upgraded at Morgan Stanley to equal-weight. $14 price target. Management is turning the business around, Morgan Stanley said. AvalonBay Communities ( AVB) was downgraded at Jefferies to hold from buy. $135 price target. 2013 outlook disappointment, Jefferies said. Armstrong World ( AWI) was upgraded at Barclays from equal-weight to overweight. $64 price target. Company will continue to benefit from a housing shortage, Barclays said. Bed Bath & Beyond ( BBBY) was upgraded at Citigroup to buy from neutral. $67 price target. Compelling valuation and improving differentiation, Citigroup said. BB&T ( BBT) was upgraded at Guggenheim from neutral to buy. $38 price target. Company will likely raise its dividend in the near term, Guggenheim said. Baidu ( BIDU) was downgraded at Stifel Nicolaus from buy to hold. Company is spending more to invest in online video and mobile internet, Stifel said. Bank of NY Mellon ( BK) was downgraded at Guggenheim from buy to neutral. Valuation call, based on a $28 price target, Guggenheim said. Cullen/Frost Bankers ( CFR) was upgraded at Oppenheimer to outperform from perform. $68 price target. Loan growth is beginning to accelerate, Oppenheimer said. CIT Group ( CIT) was downgraded at Nomura from buy to neutral. $45 price target. Valuation call, as the stock is up 16% over the past two months, Nomura said. Clearwire ( CLWR) was downgraded at DA Davidson from neutral to underperform. DISH deal will likely not go through, DA Davidson said. $2.97 price target. DR Horton ( DHI) was upgraded at Barclays from equal-weight to overweight. $27 price target. Expect better credit availability to drive demand for entry-level homes, Barclays said. Bottomline ( EPAY) was downgraded at Craig-Hallum from buy to hold. Valuation call, based on a $29 price target, Craig-Hallum said. Equity Residential ( EQR) was downgraded at Jefferies to hold from buy. $58 price target. Negative read-through from AVB results, Jefferies said.
Iconix Brand Group ( ICON) was downgraded at Citigroup to neutral from buy. $25 price target. Buffalo acquisition nice, but pricey, Citigroup said. Invesco ( BBT) was downgraded at BMO Capital from outperform to market perform. Valuation call, based on a $29 price target, BMO said. Kohl's ( KSS) was downgraded at Citigroup to neutral from buy. $50 price target. Difficult turnaround attempt, Citi said. Life Technologies ( LIFE) was downgraded at Leerink Swann from outperform to market perform. Taking a cautious view on the next-generation sequencing business, and the stock has made a big run, Leerink Swann said. Legg Mason ( LM) was downgraded at BMO Capital from market perform to underperform. $26 price target. Company is not positioned well to participate in a reflection toward equities, BMO Capital said. Macy's ( BBT) was upgraded at Citigroup to buy from neutral. $46 price target. Benficiary of a stronger housing market, Citigroup said. National Oilwell ( NOV) was downgraded at Bernstein Research from outperform to market perform. $80 price target. Backlog will likely soon peak, Bernstein Research said. National Oilwell Varco was downgraded at Bernstein to market perform from outperform. $80 price target. Expectations that backlogs will soon peak, Bernstein said. New York Community Bancorp ( NYCB) was upgraded at Morgan Stanley to overweight. $15 price target. Company restructured its debt, and net interest margin is holding up better than expected, Morgan Stanley said. PulteGroup ( PHM) was downgraded at Barclays from overweight to equal-weight. $21 price target. New-home prices will likely flatten out, Barclays said. Realogy ( RLGY) was downgraded at Barclays from overweight to equal-weight. Valuation call, based on a $46 price target, Barclays said. Sandridge ( SD) was downgraded at J.P. Morgan from overweight to underweight. $5 price target. Company faces a potential financial crunch, J.P. Morgan said. State Street ( STT) was downgraded at Guggenheim from buy to neutral. $63 price target. Valuation call, as the stock is up 32% since the fall, Guggenheim said. Constellation Brands ( STZ) was downgraded at Stifel Nicolaus from buy to hold. DOJ suit adds risk to the story. Stillwater Mining ( SWC) was upgraded at J.P. Morgan from neutral to overweight. $19 price target. Company is leveraged to rising palladium prices, J.P. Morgan said. Stryker ( SYK) was downgraded at UBS to neutral from buy. Reasonably valued and strong recent move, UBS said. Target ( TGT) was upgraded at Citigroup to buy from neutral. $72 price target. Well-positioned to gain market share through the new Threshold line, Citi said. Toll Brothers ( TOL) was downgraded at Barclays to underweight from equal-weight. $36 price target. Expect a shift toward more entry-level home buyers, Barclays said.
Ulta Salon ( ULTA) was initiated with an outperform rating at Credit Suisse. $120 price target. Company has large competitive advantages and can continue to grow, Credit Suisse said. UnitedHealth ( UNH) was upgraded at Goldman Sachs from neutral to buy. Company was also placed on the Conviction List. Company is an industry leader and leveraged to health care reform, Goldman said. $68 price target. Williams-Sonoma ( WSM) was initiated with a neutral rating at Credit Suisse. $49 price target. Company has posted inconsistent results, Credit Suisse said. Yum Brands ( YUM) was downgraded at Robert Baird from outperform to neutral. $72 price target. China outlook remains uncertain and management lowered guidance, Baird said. Zynga ( ZNGA) was upgraded at Bank of America/Merrill Lynch from underperform to buy. Valuation call, based on a $3.40 price target, BofA/Merrill said. Quiksilver ( ZQK) was downgraded at B. Riley Caris from buy to neutral. $6.70 price target. Company remains exposed to Europe, B. Riley Caris said.
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STOCK COMMENTS / EPS CHANGESAbbott ( ABT) target raised at Jefferies to $40, Jefferies said. Conservative guidance sets the stage for EPS momentum. Buy rating. Edwards LifeSciences ( EW) numbers raised at Jefferies. Shares of EW now seen reaching $114, Jefferies said. Estimates also raised on Sapian launch back on track. Buy rating. Gilead Sciences ( GILD) target lowered at OPPENHEIMER to $45, Oppenheimer said. Reflective of stock split. Outperform rating. Humana ( HUM) numbers raised at Jefferies. Shares of HUM now seen reaching $93, Jefferies said. Estimates also raised on rising confidence. Buy rating. Marathon Petroleum ( MPC) target raised at Oppenheimer to $90, Oppenheimer said. Strong outlook boosts valuation. Outperform rating. Netflix ( NFLX) estimates, target raised at BMO. Shares of NFLX now seen reaching $165, according to BMO Capital. Estimates also increased, given higher subscriber expectations. Market Perform rating. Yum! Brands ( YUM) numbers lowered at Oppenheimer. Shares of YUM now seen reaching $70. Estimates also lowered on China problems. Outperform rating. >To submit a news tip, email: email@example.com.
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