NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Anadarko Petroleum ( APC) was downgraded to hold at TheStreet Ratings.
Avon ( AVP) was downgraded at Bank of America/Merrill Lynch to neutral from buy. $18.50 price target. Turnaround will likely take longer than expected, BofA/Merrill said.
Big Lots ( BIG) was downgraded to hold at TheStreet Ratings.
El Paso Electric ( EE) was downgraded at Jefferies to hold from buy. Driven by reduction in 2016 estimates due to delay in EPA permit for Montana Power Station, Jefferies said. $37 price target.
Eros International (EROS) was initiated at UBS with a buy rating. Driven by secular growth in India, better management of P&A, and long term potential of JV with HBO Asia, UBS said. $18 price target.
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Global Payments (GPN) was downgraded at Nomura to neutral. $66 price target. Valuation call, as the company lacks near-term catalysts, Nomura said.
Jabil (JBL) was downgraded at Needham to hold from buy. Company lacks visibility and near-term catalysts, Needham said.
Rackspace Hosting (RAX) was initiated at UBS with a neutral rating. Despite high-growth market, company is facing increasing competition and has made some execution errors, UBS said. $38 price target.
Total System (TSS) was upgraded at Nomura to buy. $38 price target. Payments business should continue to drive growth over the coming quarters, Nomura said.
United Rentals (URI) was initiated at Jefferies with a buy rating. Tailwinds from recovery in nonresidential construction, market share gains from mom-and-pop peers, shift to rental trends, said Jefferies. $86 price target.
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