NEW YORK (TheStreet) -- RATINGS CHANGES
AbbVie (ABBV) was downgraded at Morgan Stanley to equal-weight from overweight. Twelve-month price target is $72. Stock is already pricing in potential for Hepatitis-C and Humira, Morgan Stanley said.
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Advisory Board (ABCO) was upgraded at Stifel Nicolaus to buy from hold. Twelve-month price target is $47. Royall purchase should boost margins, Stifel Nicolaus said.
Ariad (ARIA) was downgraded at Credit Suisse to underperform from neutral. Twelve-month price target is $6. Launch metrics remain weak and any pricing benefit will likely be temporary, Credit Suisse said.
Eli Lilly (LLY) was upgraded at Morgan Stanley to overweight from underweight. Twelve-month price target is $85. Prospects for the company's pipeline are undervalued, Morgan Stanley said.
Macerich (MAC) was downgraded at Deutsche Bank to hold from buy. Stock has run following disclosure of Simon Property Group (SPG) stake in company and appears fairly valued at a 4.6% implied cap rate, Deutsche Bank said.
Prologis (PLD) was upgraded at Deutsche Bank to buy from hold. Rent growth is expected to accelerate and lower oil should have a positive impact on demand, said Deutsche Bank.