NEW YORK (TheStreet) -- RATINGS CHANGES
Abercrombie & Fitch (ANF) was downgraded at Credit Suisse to neutral from outperform. Competitive pressures look to be intensifying in the teen apparel sector, delaying earnings power, Credit Suisse said. Threat of structural declines in mall traffic and rise of deep value retailers will make it challenging for specialty retailers who do not have scale, speed of operations or value perception, Credit Suisse also said.
AmeriGas Partners (APU) was downgraded at Credit Suisse to underperform from neutral. Stock is fully valued as company remains in long-term structural decline, Credit Suisse said.
Energizer Holdings (ENR) was downgraded at Wells Fargo to market perform from outperform. Stock has rallied 15% over the past month, most recently outperforming the S&P 500 following fourth-quarter results despite lower-than-expected guidance, Wells Fargo said. Share upside limited based on current valuation, Wells Fargo also said.
Lululemon Athletica (LULU) was downgraded at Sterne Agee to underperform from neutral. Brand has been damaged due to events of 2013 and the uninspiring tenure thus far of the new CEO, Sterne Agee said. Hard to regain lost customers, as competitors have increased focus on women's apparel, Sterne Agee also said. Twelve-month price target is $39.
Nike (NKE) was downgraded at Sterne Agee to neutral from buy. Stock priced for perfection above 12-month price target of $95, Sterne Agee said. Although company will continue to gain share, this is well understood by investors, Sterne Agee also said.
Universal Display (OLED) was downgraded at Oppenheimer to perform from outperform. Despite being well positioned to be the only supplier of the most important material for OLED displays, troubles Samsung will face in 2015 will create noise surrounding stock, Oppenheimer said.
Ross Stores (RST) was downgraded at Canaccord Genuity to sell from hold. Stock has benefited from a flight to quality, and expectations are now high, Canaccord said. Shares appear overvalued based on long-term projections, trading at premium to historic multiples despite lower growth prospects, Canaccord also said.
TJX Companies (TJX) was downgraded at Canaccord Genuity to sell from hold. Growth potential does not justify current valuation, Canaccord said. Twelve-month price target was raised to $58 from $54 in order to roll out to 2015, Canaccord said.
TriMas (TRS) was initiated at J.P. Morgan with an overweight rating. Twelve-month price target was set at $40, presenting 25% upside. Company is well below peak profitability and is one of the few remaining restructuring stories wherein basic normalization represents attractive upside, J.P. Morgan said.
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