NEW YORK ( TheStreet) -- CHANGE IN RATINGSAAR ( AIR) was upgraded at TheStreet Ratings to buy. Applied Materials ( AMAT) was downgraded at DA Davidson to neutral. $15 price target. Stock has moved ahead of the fundamentals, DA Davidson said. Aruba Networks ( ARUN) was downgraded at Oppenheimer to perform from outperform. Company is losing market share to Cisco, Oppenheimer said. Aruba Networks was downgraded at Morgan Stanley to equal-weight. Company is facing increased competition from Cisco, Morgan Stanley said. Aruba Networks was downgraded at Wedbush to neutral from outperform. $15 price target. Cisco is increasing competition, Wedbush said.
Aruba Networks was downgraded at Wells Fargo to market perform from outperform. Estimates were also cut, given the company's new guidance, Wells Fargo said. Aruba Networks was downgraded at FBN to market perform from outperform. $15 price target. Company is facing increased competition from Cisco, FBN said. Aruba Networks was downgraded at J.P. Morgan to underweight from neutral. Company is seeing slower sales growth, J.P. Morgan said. Aruba Networks was downgraded at Needham to neutral from buy. Company cut guidance and is seeing increased competition from Cisco, Needham said.
Bristol-Myers ( BMY) was upgraded at Leerink Swann to outperform from market perform. Cancer product pipeline should drive future growth, Leerink Swann said. Deere ( DE) was downgraded at Goldman Sachs to sell from neutral. Consensus earnings expectations are likely 15% too high, given lower expected agriculture equipment demand, Goldman said. $85 price target. L Brands ( LTD) was downgraded at Jefferies to underperform from hold. Sales growth is slowing, which could weigh on margins, Jefferies said. $40 price target. Regeneron ( REGN) was initiated with a neutral rating at UBS. All the good news regarding DARPin has been priced in, UBS said. Price target is $290. StarTek ( SRT) was downgraded to sell at TheStreet Ratings.
TRW Automotive ( TRW) was downgraded at Deutsche Bank to hold from buy. Valuation call, based on a $67 price target, Deutsche said. Williams-Sonoma ( WSM) was downgraded at Bank of America/Merrill Lynch to neutral from buy. Company lacks near-term catalysts, BofA/Merrill said. $60 price target. STOCK COMMENTS/EPS CHANGES Autodesk ( ADSK) price target and estimates were reduced at UBS given macro weakness and lowered guidance. Price target goes to $42.
Aruba Networks price target and estimates were reduced at UBS. Estimates were reduced given market share loss to Cisco and macro pressures, said UBS. Price target goes to $17. Dell ( DELL) estimates were reduced at UBS. Aggressive PC pricing is negatively affecting margins, UBS said. FedEx ( FDX) estimates were reduced at Citigroup. The underlying fundamentals of Express remain challenging, said Citigroup. Gilead Sciences ( GILD) price target and estimates were raised at UBS. Move reflects positive feedback from doctors about tenofovir alafenamide (TAF), said UBS. Price target goes to $67. General Motors ( GM) price target and estimates were raised at Citigroup. Estimates were increased on a solid first quarter. Pickup demand, European restructuring, OnStar and cash build are driving increased conviction, Citi said. Price target goes to $40. J.C. Penney ( JCP) estimates were reduced at UBS on the first-quarter earnings miss and significant cash burn, said UBS. Nordstrom ( JWN) estimates were reduced at UBS. Reflects the weather-related first quarter earnings miss, said UBS. Kohl's ( KSS) price target and estimates were reduced at Citigroup. Reflects weaker sales trends due to weather and payroll tax increases, as well as increased clearance activity, said Citigroup. Price target goes to $49. Magna ( MGA) estimates, price target were boosted at Keybanc. Shares are now seen reaching $79, according to Keybanc. Estimates were also increased, following a positive meeting with management, Keybanc said. Buy rating. Northrop Grumman ( NOC) numbers were raised at Credit Suisse. Shares are now seen reaching $78. Estimates also increased on buybacks above expectations, Credit Suisse said. Neutral rating. TW Telecom ( TWTC) estimates were reduced at Citigroup. Reflects investments in sales and products, said Citigroup. >To submit a news tip, email: firstname.lastname@example.org. Follow TheStreet on Twitter and become a fan on Facebook.