NEW YORK (TheStreet) -- RATINGS CHANGES
Bristol-Myers (BMY) was downgraded at Morgan Stanley to equal-weight from overweight. Stock is now discounting higher odds of success for new drug in development, creating unbalanced risk-reward dynamic, Morgan Stanley said.
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Beazer Homes (BZH) was downgraded at J.P. Morgan to neutral from overweight. Price target was lowered to $18.5 from $23.5 as fourth-quarter results drive materially lowered fiscal 2015 and fiscal 2016 estimates, J.P. Morgan said.
Golar (LNG) was initiated at Citigroup with a buy rating. Twelve-month price target is $66 as DCF analysis suggests that multiple projects may not be reflected in current valuation, Citigroup said.
Broadcom (BRCM) was upgraded at Goldman Sachs to buy from neutral. Product cycles in 2015/2016 should drive EPS upside, Goldman said. Twelve-month price target was raised to $48 from $40.
Jabil Circuit (JBL) was downgraded at Goldman Sachs to neutral from buy. Stock is approaching its 12-month price target of $22, and customer concentration poses additional risk, Goldman said.
Rosetta Resources (ROSE) was upgraded at BMO to outperform from market perform. Twelve-month price target was raised to $50 from $47 as company should be able to deliver positive debt-adjusted growth and improved capital efficiency in 2015 and beyond. Even in low commodity price environment, stock affords attractive risk/reward and strengthening fundamentals, BMO said.
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