NEW YORK ( TheStreet) -- CHANGE IN RATINGSAlign Technology ( ALGN) was downgraded at Jefferies to hold from buy. Valuation call, based on a $38 price target, Jefferies said. Artisan Partners Asset Management ( APAM) was downgraded at Citigroup to neutral. Stock has appreciated 65% since its March 7 IPO, Citi said. Credit Suisse ( CS) was upgraded to hold at TheStreet Ratings. Enersis ( ENI) was downgraded to hold at TheStreet Ratings. Exelon ( EXC) was downgraded at Deutsche Bank to hold from buy. $34 price target. Company faces significant long-term headwinds, Deutsche Bank said.
FirstEnergy ( FE) was downgraded at Credit Suisse to neutral from outperform. $40 price target. Outlook for a recovery has been delayed, Credit Suisse said. W. R. Grace ( GRA) was initiated with a buy rating at Goldman Sachs. The company will benefit from a construction market recovery and its emergence from Chapter 11, Goldman said. Price target is $105. Intelsat ( I) was initiated with a buy rating at UBS. The company operates in a defensive sector and will see equity appreciation as debt is paid down, UBS said. Price target is $30. Johnson Controls ( JCI) was upgraded at Wells Fargo to outperform from market perform. Tide has started to turn for the company, which could exceed 2014 earnings estimates, Wells Fargo said.
Kansas City Southern ( KSU) was upgraded at BMO Capital to market perform from underperform. A recovery in ag and coal volumes coupled with strong trends in intermodal and auto drive the upgrade, BMO said. Price target goes to $107. Eli Lilly ( LLY) was upgraded at Jefferies to hold from underperform. Valuation call, based on a $49 price target, Jefferies said. Merck ( MRK) was upgraded at Jefferies to buy from hold. $54 price target. Stock is attractive, based on a sum-of-the-parts valuation, Jefferies said. Public Service ( PEG) was upgraded at Credit Suisse to neutral from underperform. $31.50 price target. Stock does not deserve to trade at such a discount to its peers, Credit Suisse said. St. Jude Medical ( STJ) was downgraded at Canaccord Genuity to sell from hold. $35 price target. Earnings quality is declining and the company is facing increased competition, Canaccord said.