NEW YORK ( TheStreet) -- CHANGE IN RATINGSBB&T ( BBT) was upgraded at Compass Point to buy from neutral. $38 price target. Stock has underperformed its peers of late, Compass Point said. Concur Technologies ( CNQR) was downgraded at Oppenheimer to underperform from perform. Company will struggle to meet organic growth expectations, Oppenheimer said. Centurylink ( CTL) was initiated with a hold rating at Deutsche Bank. $35 price target. Expect little EBITDA growth in the sector, Deutsche Bank said. City National ( CYN) was initiated with a neutral rating at Goldman Sachs. Company is leveraged to rising interest rates, but lacks near-term catalysts, Goldman said. $62 price target.
First Republic Bank ( FRC) was initiated with a buy rating at Goldman Sachs. Stock was also placed on the Conviction List, Goldman said. Company can deliver solid growth over the next three to five years, Goldman said. $47 price target. Level 3 ( LVLT) was initiated with a buy rating at Deutsche Bank. $26 price target. Company is leveraged to strong growth for global IP traffic, Deutsche Bank said. Patterson Dental ( PDCO) was downgraded at Piper Jaffray to neutral from overweight. $36 price target. Company will not be able to meet earnings expectations, Piper Jaffray said. Protective Life ( PL) was downgraded at Bank of America/Merrill Lynch to underperform from neutral. $34 price target. Expectations for deal more than priced in, BofA/Merrill said.
Quanta Services ( PWR) was upgraded at DA Davidson to buy from neutral. $35 price target. Stock has pulled back, but the company should benefit from higher pipeline demand, DA Davidson said. Wabco ( WBC) was downgraded at Robert Baird to neutral from outperform. Recent pullback has created a buying opportunity. STOCK COMMENTS/EPS CHANGES Alcoa ( AA) price target and estimates were reduced at UBS. Earnings estimates through 2014 were taken down based on lower aluminum price assumptions and first-quarter results, said UBS. Price target goes to $9. Compass Minerals ( CMP) numbers were increased at BMO Capital Markets. Estimates were raised through 2014. Company is seeing higher salt demand, BMO said. Market perform rating and new $75 price target, BMO said.