NEW YORK (TheStreet) -- RATINGS CHANGES
Apollo Global (APO) was upgraded at Citi to buy from neutral. Bullish factors include management's stated increase in Athene economic ownership, higher realization outlook and moderately higher distribution forecasts, Citi said.
Allegheny (ATI) was upgraded at Sterne Agee to buy. Valuation call, based on a 12-month price target of $38, Sterne Agee said.
Cirrus Logic (CRUS) was upgraded at Oppenheimer to perform from underperform. Company lacks negative near-term catalysts, Oppenheimer said.
GrubHub (GRUB) was upgraded at Goldman Sachs to buy from neutral. Twelve-month price target is $43. Company can continue to deliver solid organic growth, Goldman Sachs said.
Home Depot (HD) was initiated at Nomura with a neutral rating. Company is well positioned to benefit from strength in housing cycle and should be able to leverage scale, brand awareness, and resources, but industry is vulnerable to competition, Nomura said.
Hess (HES) was downgraded at Morgan Stanley from overweight to equal-weight. Company is leveraged to lower energy prices. Twelve-month price target is $73.
Microsemi (MSCC) was downgraded at Oppenheimer to perform from outperform. Valuation call, based on the previous 12-month price target of $28.
Range Resources (RRC) was upgraded at Barclays to equal weight from underweight. Range shares should be far less vulnerable to the steep oil price declines than most E&Ps, Barclays said.
Shutterfly (SFLY) was downgraded at Goldman Sachs to neutral from buy. Company is seeing slower growth, Goldman said. Twelve-month price target is $45.
Sunpower (SPWR) was upgraded at Morgan Stanley to overweight. Twelve-month price target is $35. Company can create value by splitting business into development and yield companies, Morgan Stanley said.
Tractor Supply (TSCO) was initiated at Nomura with a buy rating. Hardline and home improvement category is structurally strong, with specialized retailers preferred over larger, more mature big-box hardline retailers, Nomura said.
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