NEW YORK ( TheStreet) -- CHANGE IN RATINGSApplied 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.
Coach ( 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.
Iron Mountain ( 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.