NEW YORK (TheStreet) -- RATINGS CHANGES
Boeing (BA) was downgraded to neutral from buy at Bank of America/Merrill Lynch. This was a valuation call, based on a $140 12-month price target, said BofA/Merrill.
CIT (CIT) was upgraded to hold at TheStreet Ratings.
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CyrusOne (CONE) was initiated with an equal weight rating at Barclays. The company is driven by strong underlying data traffic trends, but tempered with rising competitive pressures, Barclays said. $29 12-month price target.
Credit Suisse (CS) was downgraded to sell at TheStreet Ratings.
Equinix (EQIX) was initiated with an equal weight rating at Barclays. Strong data traffic trends though a complex sales cycle may temper long term enterprise opportunity, said Barclays. $220 12-month price target.
Freeport-McMoRan (FCX) was downgraded to neutral from buy at Bank of America/Merrill Lynch. $40 12-month price target. The company is facing uncertainty in Indonesia, BofA/Merrill said.
Health Net (HNT) was upgraded to buy from underperform at Bank of America/Merrill Lynch. Margins on new growth will likely be better than expected, BofA/Merrill said. $59 12-month price target.
Owens Corning (OC) was downgraded to hold from buy at Stifel Nicolaus. The company appears to have lost market share in roofing and will likely see lower margins, Stifel said.
Pepsico (PEP) was upgraded to buy from hold at Stifel Nicolaus. The company is entering a period of positive earnings revisions, said Stifel.