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.
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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.