NEW YORK ( TheStreet) -- CHANGE IN RATINGS Applied Materials ( AMAT) was initiated with a neutral rating at J.P. Morgan. $19 price target. Valuation suggests limited upside, J.P. Morgan said. Advanced Micro ( AMD) was upgraded at Wedbush to outperform from neutral. $5 price target. Company should benefit from a ramp in demand for video consoles, Wedbush said. Arrow Electronics ( ARW) was downgraded from to hold from buy at Deutsche Bank. $50 price target. Government uncertainty could weight on near-term demand, Deutsche Bank said. Atmel ( ATML) was downgraded at Pacific Crest to sector perform. Expect lower growth opportunities for the PC touch market, Pacific Crest said. Avnet ( AVT) was downgraded at Deutsche Bank to hold from buy. Valuation call, based on a $42 price target, Deutsche said. COH) was downgraded at Canaccord Genuity to hold from buy. $62 price target. Company lacks near-term visibility, Canaccord said. Discover Financial ( DFS) was initiated with a buy rating at Deutsche Bank. $62 price target. Company can grow along with the consumer leveraging cycle, Deutsche Bank said. Dunkin Brands ( DNKN) was upgraded at Miller Tabak to buy from hold. $53 price target. Expect comps tales to tick higher in the near term, Miller Tabak said. Expedia ( EXPE) was downgraded at Deutsche Bank to hold from buy. Valuation call, based on a $51 price target, Deutsche Bank said. Globus Medical ( GMED) was downgraded at Goldman Sachs to neutral. $18 price target. Estimates were also cut, as the company could see lower reimbursement rates, Goldman said. IRM) was upgraded at Robert Baird to outperform from neutral. Stock is not factoring in the potential for a REIT conversion, Robert Baird said. KLA-Tencor ( KLAC) was initiated with an overweight rating at J.P. Morgan. $76 price target. Will benefit from increasing yield and metrology challenges on next-generation process technologies. Liberty Interactive ( LINTA) was upgraded at Wells Fargo to outperform from market perform. New tracking stock structure should unlock value, Wells Fargo said. Lam Research ( LRCX) was initiated with an overweight rating at J.P. Morgan. $65 price target. Process complexity on next-generation manufacturing nodes significantly increases market opportunity, J.P. Morgan said.