NEW YORK (TheStreet) -- RATINGS CHANGES
Aerie Pharmaceuticals (AERI) was upgraded at Cantor Fitzgerald to buy from hold. Twelve-month price target is $15. On the first-quarter earnings call, AERI delineated a path forward for Rhopressa, its first glaucoma drug candidate, which missed a Phase III primary endpoint in April, and pointed to another (approved) glaucoma drug where primary endpoints were altered, Cantor Fitzgerald said.
Alibaba (BABA) was upgraded at Goldman Sachs to buy from neutral. Twelve-month price target is $98. Stock has lagged, but visibility is improving, Goldman Sachs said.
Choice Hotels (CHH) was upgraded at Bank of America/Merrill Lynch to buy from underperform. Twelve-month price target is $65. Low-price chain should outperform toward the end of the cycle, Bank of America/Merrill Lynch said.
Consolidated Communications (CNSL) was upgraded at Drexel Hamilton to buy from hold. Twelve-month price target is $24. Stock has pulled back to an attractive yield, given the solid payout, Drexel Hamilton said.
Diamond Offshore (DO) was downgraded at FBR Capital Markets to market perform. Twelve-month price target is $24. Estimates were also cut, given continued weakness in the offshore market, FBR Capital Markets said.
Globe Specialty Metals (GSM) was upgraded at J.P. Morgan to overweight from neutral. Twelve-month price target is $25. Upgrade reflects the increasing benefits associated with its pending merger with FerroAtlantica, J.P. Morgan said. GSM increased the expected operating cost and working capital synergies associated with the transaction, and J.P. Morgan said its analysts think the numbers could ultimately prove to be conservative.