Philip Morris International ( PM) upgraded at Nomura to neutral, Nomura said. $94.80 price target. Stock is factoring in the risk of slower growth in Asia.

Pioneer Natural ( PDX) rated new outperform at Credit Suisse. $150 price target. Permian basin will likely drive growth.

Ruckus Wireless ( RKUS) downgraded at Needham from Buy to Hold, Needham said. Valuation call, as the stock is up a quick 65% from its IPO price.

Sapient ( SAPE) downgraded at William Blair from Outperform to Market Perform, William Blair said. Company offered disappointing organic growth guidance and margin upside appears limited.

Sandridge ( SD) rated new Neutral at Credit Suisse. $6.30 price target. Stock will likely remain range-bound this year.

Seattle Genetics ( SGEN) downgraded at Needham from Buy to Hold, Needham said. Adcetris sales are lagging expectations.

UTi Worldwide ( UTIW) upgraded at Jefferies to Buy from Hold, Jefferies said. $18 price target. Leverage to restocking with a restructuring kicker.

STOCK COMMENTS / EPS CHANGES

Avon Products ( AVP) numbers raised at BofA/Merrill. Shares of AVP now seen reaching $24, according to Bank of America/Merrill Lynch. Estimates also increased, as higher sales is driving margin growth. Buy rating.

Comcast ( CMCSA) target raised at Citigroup to 45.50, Citigroup said. NBCU deal a fair price and accretive. Buy rating.

Cooper Companies ( COO) numbers raised at Jefferies. Shares of COO now seen reaching $100, Jefferies said. Estimates also raised on shift in the CIBA royalty agreement. Hold rating.

Hercules Offshore ( HERO) numbers raised at Jefferies. Shares of HERO now seen reaching $8, Jefferies said. Estimates also raised on solid domestic jack-up rates. Hold rating.

Level 3 Communications ( LVLT) numbers cut at Canaccord. Shares of LVLT now seen reaching $16, according to Canaccord Genuity. Estimates also reduced, given macro headwinds. Hold rating.

Rackspace ( RAX) estimates, target cut at JMP. RAX estimates were reduced through 2014, JMP Securities said. Company is seeing lower sales. Outperform rating and new $78 price target.

Royal Dutch Shell ( RDS) target lowered at Oppenheimer to $80, Oppenheimer said. Weak unconventional results take down earnings. Outperform rating.

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