Analysts' Actions: AMBC, CIEN, C, JDSU, PCG

NEW YORK (TheStreet) -- RATINGS CHANGES

Ambac (AMBC) was downgraded at MKM Partners to sell from neutral. Twelve-month price target is $21. Parent company likely will not see much cash flow in the near term, MKM Partners said.

Ciena (CIEN) was downgraded at RBC Capital to sector perform from outperform. Twelve-month price target is $28. Company is gaining market share, but higher sales have yet to boost earnings, RBC Capital said.

Citigroup (C) was downgraded at Societe Generale to hold from buy. Twelve-month price target is $52. Company is returning less capital to investors, Societe Generale said.

Exa (EXA) was downgraded to sell at TheStreet Ratings.

Blackhawk (HAWK) was downgraded at Piper Jaffray to neutral from overweight. Twelve-month price target is $26. Company faces growth headwinds, Piper Jaffray said.

JDS Uniphase (JDSU) was downgraded at RBC Capital to sector perform from outperform. Valuation call, based on a 12-month price target of $15.

PG&E (PCG) was downgraded at Deutsche Bank to hold from buy. Twelve-month price target is $45. San Bruno case could continue to hang over the stock, Deutsche Bank said.

Dr. Reddy Laboratories (RDY) was upgraded to buy at TheStreet Ratings.

Stock Comments / EPS Changes

Aegerion Pharmaceuticals (AEGR) 12-month price target was lowered at Jefferies to $80. Driven by lowered revisions on Juxtapid sales. Buy rating.

Amgen (AMGN) 12-month price target was raised at Jefferies to $145. Driven by increased evolocumab sales estimates, Jefferies said. Buy rating.

On Assignment (ASGN) 12-month price target was raised at Jefferies. Pushing into high-margin perm recruiting biz with strong management track record capable of delivering long-term targets, Jefferies said. Twelve-month price target is $42. Buy rating.

Lululemon Athletica (LULU) 12-month price target was raised at UBS. Positive double-digit comps, above-plan performance in new stores and probable acceleration in international growth, UBS said. Twelve-month price target is $52. Neutral rating.

Micron (MU) estimates, 12-month price target were cut at Bank of America/Merrill Lynch. Shares are now seen reaching $19.10. Estimates were also cut, given lower memory prices, Bank of America/Merrill said. Underperform rating.

Plains GP Holding (PAGP) 12-month price target was raised at UBS to $32. Driven by oil infrastructure expansions, UBS said. Buy rating.

Red Hat (RHT) 12-month price target was raised at UBS to $64. High interest in OpenStack and strong cross-sell, UBS said. Buy rating.

Teva (TEVA) was added to the US Focus List at Citigroup. Twelve-month price target is $60. Company offers the best risk/reward of the group, Citigroup said.

VMware (VMW) 12-month price target was increased at Jefferies to $124. Driven by vSAN product growth as it lowers storage costs and simplifies storage management, Jefferies said. Buy rating.

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This article was written by a staff member of TheStreet.

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