NEW YORK (TheStreet) -- RATINGS CHANGES
BlackBerry (BBRY) was downgraded at Credit Suisse to underperform from neutral. Driven by level of FCF burn and pressure in services revenue, Credit Suisse said. Twelve-month price target is $6.
Edison International (EIX) was upgraded at UBS to buy from neutral. Company also announced entry into settlement over regulatory issues, removing major overhang for investors, UBS said. Twelve-month price target is $60.
Evolving Systems (EVOL) was downgraded to hold at TheStreet Ratings.
ONEOK (OKE) was initiated at UBS with a neutral rating. Despite solid footprint and growth opportunities, decreasing dividend growth compresses valuation, UBS said. $61 price target.
NRG Energy (NRG) was downgraded to hold at TheStreet Ratings.
RenaissanceRe (RNR) was downgraded at Bank of America/Merrill Lynch to underperform from neutral. Valuation call with increasing challenging underwriting environment, BofA/Merrill said. Twelve-month price target is $91.
Targa Resources (TRGP) was initiated at UBS with a neutral rating. Attractive growth story that is fairly valued, UBS said. Twelve-month price target is $100.