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.
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.
NRG Yield (NYLD) was upgraded at Barclays to overweight from equal weight. Twelve-month price target is $60. Catalysts include shareholder approval of new share classes and the company's first-quarter conference call, Barclays said.
Targa Resources (TRGP) was downgraded at J.P. Morgan to neutral from overweight. Twelve-month price target is $117. Taking a breather on TRGP after strong bounce and limited 2016 visibility creating a balanced risk/reward profile, J.P. Morgan said.
WR Berkley (WRB) was upgraded at Goldman Sachs to neutral from sell. Twelve-month price target is $51. Estimates were also increased, as the company should see better pricing, Goldman Sachs said.
Zulily (ZU) was downgraded at Stifel to hold from buy. Company has failed to transition its business model, Stifel said.
Zulily was downgraded at Oppenheimer to perform from outperform. Lower marketing spending will likely hurt sales, Oppenheimer said.
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