VMware (VMW) was upgraded at Sterne Agee to buy. Twelve-month price target is $126. Company can deliver above-average growth, Sterne Agee said.
Exelis (XLS) was downgraded at Jefferies to hold from buy. Valuation call, Jefferies said. Twelve-month price target is $20.
Yelp (YELP) was upgraded at JMP Securities to outperform from market perform. Twelve-month price target is $113. Company can deliver solid growth over the next few years and the stock has pulled back 15%, JMP Securities said.
Zions (ZION) was downgraded at BMO Capital to market perform from outperform. Twelve-month price target is $30. Failure of the stress test will likely hang over the stock, BMO Capital said.
Stock Comments / EPS Changes
Illinois Tool Works (ITW) 12-month price target was raised to $95 at Jefferies. Driven by exposure to recovering NA construction and automotive markets, Jefferies said. Buy rating.
Liberty Global (LBTYA) 12-month price target was reduced at Jefferies to $51. Mostly driven by increase in share count following company's scrip issue, but strong cash momentum is set to continue, Jefferies said. Buy rating.
Lululemon (LULU) estimates, 12-month price target were cut at J.P. Morgan. Price target is now $58. Estimates were reduced, given lower expected comp sales, J.P. Morgan said. Overweight rating.
PACCAR (PCAR) price target, estimates were lifted at Jefferies. Margins are set to expand with integrated engine strategy and new products, Jefferies said. Twelve-month price target is $78. Buy rating.
Tiffany (TIF) was removed from the Conviction Buy List at Goldman Sachs. Growth thesis is playing out more slowly than expected, Goldman Sachs said. Twelve-month price target is $100.
Western Alliance (WAL) 12-month price target, EPS estimates were raised at Jefferies. Stronger loan growth trajectory with increased line utilization and positive growth from Nevada, Jefferies said. Twelve-month price target is now $30. Buy rating.