NEW YORK (TheStreet) -- CHANGE IN RATINGS
Abercrombie & Fitch (ANF) was upgraded at Credit Suisse to outperform from neutral. Twelve-month price target is $52. Estimates were also increased, as the company is cutting costs, Credit Suisse said.
Avon Products (AVP) was initiated at UBS with a sell rating. Company needs to reinvest on brand, products and recruiting. Twelve-month price target is $14. Sell rating.
Church & Dwight (CHD) was initiated at UBS. Strong brand portfolio with potential value-add acquisitions down the road, UBS said. Twelve-month price target is $77. Buy rating.
Cliffs Natural (CLF) was downgraded at Wells Fargo to underperform from market perform. Estimates were also cut, as spot price is weakening, Wells Fargo said.
Clorox (CLX) was initiated at UBS with a sell rating. Top-line pressures with limited organic growth prospects and commodity risks loom, UBS said. Twelve-month price target is $80. Sell rating.
Estee Lauder (EL) was initiated at UBS with a buy rating. Growth opportunities in both mature and growing economies with ability to expand operating margins over time, UBS said. Twelve-month price target is $81. Buy rating.
Intuitive Surgical (ISRG) was downgraded at Cantor Fitzgerald to hold from buy. Valuation call, as the stock is up 18% year to date, Cantor said. Twelve-month price target is $450.
Coca-Cola (KO) was initiated at UBS with a neutral rating. Fighting secular trends, needs tea and energy brands, particularly in exposure to international, UBS said. Twelve-month price target is $40.
Lennar (LEN) was downgraded at Keybanc to hold from buy. Valuation call, said Keybanc.
Magna (MGA) was upgraded at J.P. Morgan to neutral from underweight. Company is realizing higher margins and will likely leverage its balance sheet for acquisitions and buybacks, J.P. Morgan said.