NEW YORK ( TheStreet) -- CHANGE IN RATINGS
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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