NEW YORK (TheStreet) -- RATINGS CHANGES
Broadcom (BRCM) was upgraded at Drexel Hamilton to buy from hold. Twelve-month price target is $45. Shedding the cellular baseband business highlights the growth potential in high-speed data, Drexel Hamilton said.
Coach (COH) was downgraded at Sterne Agee to neutral. Twelve-month price target is $41. Sales visibility remains low and a potential turnaround lies too far out, Sterne Agee said.
ITT (ITT) was upgraded to buy at TheStreet Ratings.
GNC (GNC) was initiated with a buy rating at Bank of America/Merrill Lynch. Consistent growth and long-term drivers in the hardlines retail sector create an opportunity to accelerate comp sales and expand the multiple, Bank of America/Merrill Lynch said. Twelve-month price target is $50.
Monster Beverage (MNST) was initiated with an outperform rating at Credit Suisse. Twelve-month price target is $82. Company can deliver industry-leading top- and bottom-line growth, Credit Suisse said.
Newell Rubbermaid (NWL) was upgraded at Morgan Stanley to overweight from equal-weight. Twelve-month price target is $34. Expect organic sales and earnings growth to rebound in the coming quarters, Morgan Stanley said.
SciQuest (SQI) was downgraded to hold at TheStreet Ratings.
Tibco (TIBX) was downgraded at MIzuho to neutral. Twelve-month price target is $18. Company faces execution challenges, Mizuho said.