NEW YORK (TheStreet) -- RATINGS CHANGES
Ally Financial (ALLY) was initiated with an outperform rating at Wells Fargo. Company has competitive advantages and can generate solid returns, Wells Fargo said.
Actuant (ATU) was downgraded at FBR Capital Markets to market perform from outperform. Twelve-month price target is $35. Expect to see ongoing choppiness in end-market demand, FBR Capital Markets said.
Must Read: 10 Stocks Carl Icahn Loves in 2014
Harley-Davidson (HOG) was initiated with a hold rating at Wunderlich. Twelve-month price target is $57. Company is facing increased competition, Wunderlich said.
Altria (MO) was upgraded at Bank of America/Merrill Lynch to buy from neutral. Estimates were also increased. Twelve-month price target is $50.
Nike (NKE) was upgraded at Janney to buy from neutral. Twelve-month price target is $93. Sales growth is accelerating and the company continues to generate strong cash flow, Janney said.
Northrop Grumman (NOC) was upgraded at Deutsche Bank to buy from hold. Twelve-month price target is $145. Defense budget stability may be on the horizon, Deutsche Bank said.
Packaging Corp. (PKG) was upgraded at DA Davidson to buy. Twelve-month price target is $75. Pullback has created a compelling entry point, DA Davidson said.