Analysts' Actions: LULU CIEN ATHN HLT WDC

NEW YORK (TheStreet) -- CHANGE IN RATINGS


Advance Auto (AAP) was upgraded to top pick from outperform at RBC Capital. $131 price target. The GPI acquisition should help drive growth, RBC said.

Anadarko Petroleum (APC) was downgraded to underweight from equalweight at J.P. Morgan. The lost Tronox decision and lingering uncertainty will cause the stock to underperform, said J.P. Morgan.


AthenaHealth (ATHN) was upgraded to outperform by Leerink Swann. $150 price target. The company can continue to deliver 30% bookings growth in 2014, Leerink said.


Ciena (CIEN) was upgraded to outperform from market perform at BMO Capital Markets. $26 price target. Its strong order momentum and better-than-industry results will rev growth and margin expansion, said BMO.

Chevron (CVX) was initiated with a rating of sector perform by RBC Capital. $120 price target. The company has above-average production growth but large negative free cash flow, said RBC.

8x8 (EGHT) was downgraded to a hold rating at TheStreet Ratings.

[Read: Amazon Forecast: Partly Cloudy With Chance of New Revenue]

Hilton (HLT) was initiated with a neutral rating by MKM Partners. $24 price target. The rating is a valuation call, said MKM.

Lululemon (LULU) was downgraded to neutral from outperform at Credit Suisse. $59 price target. The underlying demand environment is changing, Credit Suisse said.


Seagate (STX) was upgraded to buy by Citigroup. $62 price target. The industry should benefit from a recovery in PC demand, said Citigroup.

Supertex ( SUPX) was downgraded to a hold rating at TheStreet Ratings.

Suncoke (SXC) was upgraded to buy from neutral by Bank of America/Merrill Lynch. $25 price target. An asset swap with MLP should boost returns, said BofA/Merrill.

Western Digital (WDC) was upgraded to buy at Citigroup. $100 price target. The company is leveraged to a recovery in the PC market, said Citigroup.

[Read: Managers Cautious on 2013's Top Stocks, Such as Netflix, Micron]


US Steel
(X) rating was raised to outperform from market perform at Cowen. The company is leveraged to higher demand as economies recover in the U.S. and Europe, Cowen said.


Exxon Mobil (XOM) was initiated with a rating of outperform by RBC Capital. $105 price target. The company is a market leader and deserves a premium valuation, said RBC.


Quiksilver (ZQK) was upgraded to buy from neutral by B. Riley. $10 price target. Management is turning the business around, said B. Riley.


Stock Comments / EPS Changes

Ciena (CIEN) price target and EPS were lowered at UBS.  Ciena had lower numbers and experienced pressure on margins due to higher operating expenses and lower GM, said UBS. $23 price target and neutral rating.

 

Cepheid (CPHD) price target was raised at UBS. The company had better numbers, and manufacturing practice improvements should drive margin expansion. $48 price target and buy rating.


Cisco (CSCO) price target and estimates were cut by Sterne Agee. Shares of Cisco are now seen reaching $25, according to Sterne Agee. Estimates were also reduced, given the company's new guidance. $25 price target.

[Read: Help Your Company Out: Appoint Women to the Board]


Catamaran
(CTRX) price target was raised at Credit Suisse.  The company was added to Credit Suisse's U.S. Focus List.  The stock has lagged in 2013, even though the company is growing earnings 65%, said Credit Suisse. $60 price target.


Lululemon Athletica
( LULU) price target and EPS were lowered at UBS. Lululemon had lower numbers, and sourcing issues will be an overhang into FY14, said UBS. $66 price target and neutral rating.

Merck (MRK) estimates were reduced at BMO Capital.  Merck's estimates were cut through 2015, since the company will likely see lower Januvia sales, said BMO. $54 price target and outperform rating.


 

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This article was written by a staff member of TheStreet.

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