Analysts' Actions: AAPL MSFT DUK EAT PNRA

NEW YORK ( TheStreet) -- CHANGE IN RATINGS

Apple ( AAPL) was initiated with a buy rating at Lazard. $540 price target. Company still has strong competitive advantages, Lazard Capital Markets said.

Bona Film Group ( BONA) was downgraded to sell at TheStreet Ratings.

Coleman Cable ( CCIX) was upgraded to buy at TheStreet Ratings.

Carmike Cinemas ( CKEC) was upgraded to buy at TheStreet Ratings.

VAALCO Energy ( EGY) was downgraded to hold at TheStreet Ratings.

Embraer ( ERJ) was upgraded to buy at TheStreet Ratings.

Meadowbrook Insurance Group ( MIG) was upgraded to buy at TheStreet Ratings.

Microsoft ( MSFT) was downgraded from buy to neutral BofA/Merrill. $33 price target. Windows 8 lacks momentum, Bank of America/Merrill Lynch said.

Panera Bread ( PNRA) was upgraded to buy at Goldman. $215 price target. Company also placed on the Conviction List. Company can continue to grow units and same-store sales, Goldman Sachs said.

OMNOVA Solutions ( OMN) was downgraded to hold at TheStreet Ratings.

Ocean Shore Holding ( OSHC) was downgraded to hold at TheStreet Ratings.

Pharmacyclics ( PCYC) was downgraded to hold at TheStreet Ratings.

Peoples Federal Bancshares ( PEOP) was upgraded to buy at TheStreet Ratings.

Duke Energy ( DUK) was downgraded from buy to hold at Argus. Valuation call, as the stock has outperformed its peers year-to-date, Argus Research said.

Brinker ( EAT) was upgraded to buy at Goldman. $44 price target. Company could see better domestic traffic growth, Goldman Sachs said.

PremierWest Bancorp ( PRWT) was upgraded to hold at TheStreet Ratings.

Sykes Enterprises ( SYKE) was upgraded to buy at TheStreet Ratings.

United Bancorp ( UBCP) was upgraded to buy at TheStreet Ratings.

China Xiniya Fashion ( XNY) was upgraded to hold at TheStreet Ratings.

Yelp ( YELP) was initiated as hold at TheStreet Ratings.

Aruba Networks ( ARUN) was downgraded to neutral at UBS. Given multiple expansion and stock performance, the current valuation is fair, said UBS.

Brown & Brown ( BRO) was upgraded from sell to neutral at Goldman. Company can continue to generate solid organic growth, Goldman Sachs said. $33 price target.

Ulta Beauty ( ULTA) was upgraded to buy at Jefferies. $100 price target. Stock is attractive, following a 20% pullback, Jefferies said.

Avista ( AVA) was downgraded to neutral at UBS based on valuation. Recent share price appreciation reflects recent successes in the rate case arena, said UBS.

Centurylink ( CTL) was upgraded from neutral to overweight at JP Morgan. $38 price target. Had a positive meeting with management and feel better about the long-term business outlook, JP Morgan said.

Finisar ( FNSR) was upgraded from neutral to buy at Lazard. $17 price target. Risk/reward is attractive at current levels, Lazard Capital Markets said.

STOCK COMMENTS/EPS CHANGES

Acuity Brands ( AYI) price target was raised to $83 as the North American market is expected to show improving business trends in the second half of the year, said UBS.

Bed Bath & Beyond ( BBBY) price target and earnings estimates were increased through 2014 at UBS. Q4 earnings will be in-line, but the online strategy will be the key to future success, said UBS. Price target goes to $64

Domino's Pizza ( DPZ) was removed from the conviction buy list, according to Goldman Sachs. Valuation call, based on a $60 price target.

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