Analysts' Actions: AAPL DDD FELE FIO MU


Apple (AAPL) was upgraded at UBS to buy from neutral. Driven by stabilizing iPad gross margins, emergence of China Mobile and further new product rollout, UBS said. $650 price target.

Cobalt (CIE) was downgraded at Credit Suisse to neutral from outperform. $26 price target. Company is seeing lower production results, Credit Suisse said.

3D Systems (DDD) was initiated with an outperform rating at FBR Capital Markets. $85 price target. Company should see better penetration rates and higher customer demand, FBR Capital Markets said.

Fortinet (FTNT) was upgraded at Bank of America/Merrill Lynch to buy from neutral. $24 price target. Stock appears oversold following the recent CFO resignation, which appears to be for personal reasons, BofA/Merrill said.

Franklin Electric (FELE) was downgraded at Wedbush to neutral. Valuation call, based on a $43 price target, Wedbush said.

Winthrop Realty Trust (FUR) was upgraded to buy at TheStreet Ratings.

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Fusion-io (FIO) was downgraded at UBS to neutral from buy. Concern about management change and competitive environment, UBS said. $11 price target.

HollyFrontier (HFC) was upgraded at Bank of America/Merrill Lynch to buy. $60 price target. Company has lagged its peers during a seasonal rebound, BofA/Merrill said.

Imax (IMAX) was downgraded at Goldman Sachs to neutral from buy. Valuation call, based on a $30 price target, Goldman Sachs said.

Micron (MU) was initiated with a buy rating at Needham. $30 price target. Stocks should see multiple expansion in the coming quarters, Needham said.

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