Riverbed ( RVBD) was upgraded at Oppenheimer to outperform from perform. $20 price target. Stock offers an attractive risk/reward at current levels, Oppenheimer said. Steve Madden ( SHOO) was upgraded at Goldman Sachs to buy from sell. $69 price target. Company is using its solid balance sheet to buy back stock, Goldman Sachs said. SM Energy ( SM) was upgraded to buy at TheStreet Ratings. Synchronoss ( SNCR) was added to the U.S. Focus List at Credit Suisse. Company should see a higher sales ramp in cloud services, Credit Suisse said. $46 price target.
Teva ( TEVA) was downgraded at Morgan Stanley to underweight from equal-weight. Consensus estimates are likely too high and see better value in Mylan. Viacom ( VIAB) was downgraded at Needham to hold from buy. Valuation call, as the stock is up more than 20% over the past six weeks and trades at a premium to its peers, Needham said. Vectren ( VVC) was downgraded underperform from neutral at Bank of America/Merrill Lynch. Valuation call, based on a $33 price target, BofA/Merrill said. Whole Foods ( WFM) was upgraded at Williams to buy from hold. $64 price target. Company deserves a higher valuation multiple, Williams said.
Stock Comments / EPS Changes
Autodesk ( ADSK) estimates, price target were reduced at Jefferies. Shares are now seen reaching $42. Estimates were also cut, as field work shows no improvement expected for the second half of the year, Jefferies said. Buy rating. Aruba ( ARUN) estimates, price target were increased at JMP Securities. Estimates were increased through 2014. Channel checks show a rebound in demand, JMP said. Outperform rating and new $22 price target. American Axle ( AXL) numbers were raised at Citigroup. Shares are now seen reaching $24. Estimates were also increased, given improving earnings momentum, Citi said. Buy rating. Broadcom ( BRCM) estimates, price target were cut at Piper Jaffray. Estimates were reduced through 2014. Company is losing market share, Piper Jaffray said. Overweight rating and new $34 price target. Chevron ( CVX) estimates were reduced at UBS. Estimates were cut through 2014. Company is seeing slower growth across the board, UBS said. Neutral rating and new $125 price target.