NEW YORK ( TheStreet) -- CHANGE IN RATINGS Broadcom ( BRCM) was downgraded at Citigroup to neutral from buy and given a $34 price target. Multiples expansion will be hard given weak smartphone growth and connectivity competition, said Citigroup. Broadcom was downgraded at William Blair to market perform from outperform. Heavy concentration in the baseband business will lead to continued volatility, William Blair said. Broadcom was downgraded at BMO Capital to market perform. $30 price target. Apple ( AAPL) and Samsung may soon introduce their own connectivity solutions, BMO Capital said. Dish Network ( DISH) was downgraded at Wunderlich to hold from buy. $50 price target. Company may have to purchase T-Mobile to monetize its spectrum, Wunderlich said. FMER) was upgraded at DA Davidson to buy from neutral $28 price target. Core results have been solid, given better core loan growth, DA Davidson said. VAALCO Energy ( EGY) was downgraded to hold at TheStreet Ratings. FirstMerit ( FMER) was upgraded at DA Davidson to buy from neutral. $28 price target. Core results have been solid, given better core loan growth, DA Davidson said. Ironwood ( IRWD) was upgraded at Cantor Fitzgerald to hold. $10 price target. Linzess can continue to grow, and the company is keeping a tight lid on costs, Cantor said. Norfolk Southern ( NSC) was downgraded at Bank of America/Merrill Lynch to underperform from neutral. $74 price target. Company is seeing lower sales per car, given lower commodity yields, BofA/Merrill said. PCAR) was downgraded at Wells Fargo to market perform from outperform. Valuation call, as there is limited upside potential to consensus expectations, Wells Fargo said. Paccar was downgraded at Piper Jaffray to neutral from overweight. Recovering housing and auto market has been priced in, and a large U.K. footprint will be hurt by new emissions regulations, Piper Jaffray said. Price target is $56. Paccar was downgraded at BMO Capital to market perform. $60 price target. Valuation call, as the stock is up 27% year to date, BMO Capital said. Portland General ( POR) was downgraded at Deutsche Bank to hold from buy. $32 price target. Company lacks near-term catalysts, Deutsche Bank said.
Valassis Communications ( VCI) was upgraded to buy at TheStreet Ratings. TCF Financial ( TCB) was upgraded at FBR Capital to market perform from underperform. $17 price target. Company is seeing solid top-line growth and improving credit trends, FBR Capital said. Valueclick ( VCLK) was downgraded at Goldman Sachs to neutral from buy. $29 price target. Company is facing increased competiton, Goldman said. Wendy's ( WEN) was upgraded at Goldman Sachs to neutral from sell. $7.50 price target. Company is moving toward a franchising model and is realizing higher margins, Goldman said.
Illumina ( ILMN) numbers were increased at Citigroup. Earnings estimates were raised given revenue momentum and sequencing demand, said Citigroup. Price target goes to $85. Juniper ( JNPR) numbers were raised at Topeka. Shares are now seen reaching $26.75, according to Topeka Capital. Company appears to be on the path to recovery and offered a solid outlook, Topeka said. Buy rating. Manhattan ( MANH) estimates, price target were increased at Benchmark. Estimates were raised through 2014. Company is cutting costs and seeing higher currency gains, Benchmark said. Hold rating and new $75 price target. Penn National ( PENN) numbers were lowered at Sterne Agee. Earnings estimates were lowered on decreased guidance and a second-quarter miss, said Sterne Agee. Price target decreased to $60. Everest Re ( RE) numbers were raised at UBS. Earnings estimates were increased given the first-quarter beat and improved accident year profitability, said UBS. Price target was raised to $150. United Technologies ( UTX) numbers were raised at Sterne Agee. Shares are now seen reaching $128. Estimates were also increased, as the company is seeing higher orders, said Sterne Agee. Buy rating. VMware ( VMW) estimates were raised at UBS. Earnings estimates were increased given solid license growth undercurrents, said UBS. Price target is $105. VMWare ( VMW) estimates, price target were increased at BMO Capital. Earnings estimates were raised through 2014. Company is seeing solid growth across the board, BMO Capital said. Market Perform rating and new $87 price target. >To submit a news tip, email: firstname.lastname@example.org. Follow TheStreet on Twitter and become a fan on Facebook.