NEW YORK (TheStreet) -- RATINGS CHANGES
Allot Communications (ALLT) was downgraded at Barclays to underweight from neutral. Twelve-month price target is $9. Allot is a company in transition as the core DPI business slows and its focus shifts primarily to value-added services, Barclays said. This transition will affect revenue, size of deals, geographic mix, bookings and backlog trends, Barclays also said.
Borderfree (BRDR) was downgraded at Canaccord Genuity to hold from buy. Twelve-month price target is $14. First- quarter results were solid, beating analysts' estimates for revenue and EBITDA, as the model appears to be recovering from the exchange rate-induced sluggishness that started late last year, Canaccord Genuity said. Of greater importance, the company announced that Pitney Bowes (PBI) agreed to acquire it for $14 per share in cash, Canaccord Genuity also said.
Cooper Tire (CTB) was downgraded at Goldman Sachs to sell. Twelve-month price target is $33. Company is facing increased competition, particularly overseas, Goldman Sachs said.
First Niagara (FNFG) was downgraded at Goldman Sachs to sell from neutral. Twelve-month price target is $8.50. Company will likely see slower loan growth and lower fees, Goldman Sachs said.
Kennametal (KMT) was upgraded at Goldman Sachs to neutral from sell. Twelve-month price target is $37. Company restructuring is gaining traction, Goldman Sachs said.