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.
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.
Wabco (WBC) was upgraded at Stifel Nicolaus to buy from hold. Twelve-month price target is $111. Challenges in Europe and emerging markets have created a buying opportunity, Stifel Nicolaus said.
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