NEW YORK (TheStreet) -- RATINGS CHANGES
Caterpillar (CAT) was upgraded at Robert Baird to outperform from neutral. Valuation call, based on a 12-month price target of $101, Baird said.
Caterpillar was upgraded to buy at TheStreet Ratings. You can view the full analysis from the report here: CAT Ratings Report.
Cisco (CSCO) was upgraded at Pacific Crest to overweight from sector weight. Twelve-month price target is $36. New products should drive better growth in the coming quarters, Pacific Crest said.
Dyax (DYAX) was downgraded at Oppenheimer to perform from outperform. Valuation call, as the stock exceeded the previous $26 price target, Oppenheimer said.
Etsy (ETSY) was downgraded at Wedbush to underperform from neutral. Twelve-month price target is $14. Counterfeit risk is larger than anticipated, Wedbush said.
GoDaddy (GDDY) was initiated with a market outperform rating at JMP Securities. Twelve-month price target is $30. JMP Securities said its analysts' positive view is based on three key points: 1) product mix shift as the company offers a full suite of tools for SMBs to create, run and manage their businesses; 2) this results in higher-margin revenue and expanding margins; and 3) strong underlying fundamentals with a seasoned management team, high visibility into revenue given its subscription model, and strong free cash flow generation.