NEW YORK (TheStreet) -- RATINGS CHANGES
Advanced Micro (AMD) was initiated with a sell rating at Citigroup. $2 12-month price target. The company is losing money and market share in a majority of its businesses, Citigroup said.
American Express (AXP) was initiated with a hold rating at Jefferies. $95 12-month price target. The company is experiencing sales headwinds, Jefferies said.
Baker Hughes (BHI) was upgraded to outperform from sector perform at RBC Capital. $72 12-month price target. The company has attractive exposure to the North America land market, RBC said.
Infoblox (BLOX) was upgraded to outperform at Pacific Crest. $25 12-month price target. The company has an improved outlook and new management can drive growth, Pacific Crest said.
Coach (COH) was initiated with a perform rating at Oppenheimer. $36 12-month price target. The company is facing increased competition and is still heavily reliant on its outlet channel, Oppenheimer said.
FMC Technologies (FTI) was downgraded to sector perform from outperform at RBC Capital. $52 12-month price target. Service stocks will likely not rally until oil prices do, RBC said.
Corning (GLW) was upgraded to buy at Citigroup. $25 12-month price target. The company should benefit from renewed strength in TV demand in the next couple of years, Citigroup said.
HCA (HCA) was initiated with a buy rating at Sterne Agee. $96 12-month price target. The company is a market leader, but trades at a discount to its peers, said Sterne Agee.
IHS (IHS) was downgraded to underweight at Morgan Stanley. $107 12-month price target. Expect the company to post lower organic growth, Morgan Stanley said.
Intel (INTC) was initiated with a neutral rating at Citigroup. $35 12-month price target. Margins and earnings appear to be peaking, Citigroup said.
Intuit (INTU) was downgraded to neutral from outperform at Wedbush. $92 12-month price target. Quickbooks transition to online may be tougher than expected, Wedbush said.
Michael Kors (KORS) was initiated with a perform rating at Oppenheimer. $80 12-month price target. Its North America business appears to be maturing, Oppenheimer said.
LinkedIn (LNKD) was initiated with an outperform rating at Wells Fargo. The company can deliver 25% to 30% annual growth over the coming years and deserves a higher valuation, Wells Fargo said.
Lam Research (LRCX) was upgraded to buy at Citigroup. $100 12-month price target. The company is moving away from the memory business and deserves a higher multiple, said Citigroup.
Boston Beer (SAM) was initiated with a buy rating and $320 12-month price target at Nomura. The company can continue to grow and deserves a premium valuation, said Nomura.
Texas Instruments (TXN) was initiated with a buy rating at Citigroup. $63 12-month price target. The company is managed well and can continue increase margins and earnings, Citigroup said.
Williams-Sonoma (WSM) was upgraded to buy from neutral at Goldman Sachs. The company was also placed on the conviction buy list. $81 12-month price target. The company appears poised to deliver accelerated growth, said Goldman Sachs.
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