NEW YORK ( TheStreet) -- CHANGE IN RATINGS Apache ( APA) was upgraded to buy at TheStreet Ratings. Bed, Bath & Beyond ( BBBY) was downgraded at Canaccord Genuity to hold from buy. $84 price target. Company could be hurt by a challenging consumer discretionary environment, Canaccord Genuity said. Biogen Idec ( BIIB) was initiated with a market perform rating at FBR Capital Markets. $259 price target. Company has limited visibility with its hemophilia franchises, FBR Capital Markets said. Corporate Executive Board ( CEB) was downgraded to hold at TheStreet Ratings. DAN) was downgraded at Keybanc to hold from buy. Valuation call, as little new business growth is expected in 2014. Edwards Lifesciences ( EW) downgraded at J.P. Morgan to underweight from neutral. $62 price target. Street estimates too high and growth deceleration to start in the second half of 2014. First Republic ( FRC) was downgraded at Deutsche Bank to hold. Valuation call, as the stock is up 53% since January, Deutsche Bank said. Johnson Controls ( JCI) was downgraded at Litchfield Hills to hold from buy. Valuation call, based on a $47 price target, Litchfield Hills said. Michael Kors ( KORS) was initiated with a buy rating at Maxim Group. $99 price target. Company can continue to grow over the coming years, Maxim Group said. Oceaneering ( OII) was upgraded at Howard Weil to outperform from sector perform. $105 price target. Company has solid visibility and boosted guidance, Howard Weil said. SM) was upgraded at Topeka Capital to buy from hold. $120 price target. Company disclosed new acreage in the Permian basin, Topeka Capital said. SanDisk ( SM) was downgraded at Bank of America/Merrill Lynch to neutral from buy. Valuation call, based on a $75 price target, BofA/Merrill Lynch said. Union Pacific ( UNP) was downgraded at Robert Baird to neutral from outperform. $173 price target. Stock is largely factoring in strong pricing, Baird said. US Steel ( X) was downgraded at Deutsche Bank to hold from buy. $22 price target. Company offered a weaker outlook, despite better steel market trends, Deutsche Bank said. Xylem ( XYL) was downgraded at Keybanc to hold from buy. Valuation call, following the recent surge in the stock, Keybanc said.