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.
GoDaddy was initiated with a buy rating and $32 price target at Citigroup. Company has an attractive sales and profitability outlook, Citigroup said.
Joy Global (JOY) was upgraded at Robert Baird to outperform from neutral. Twelve-month price target is $62. Worst may be behind the company and the industry, Robert Baird said.
JPMorgan Chase (JPM) was downgraded at MKM Partners to neutral from buy. Twelve-month price target is $65. JPMorgan Chase has reached MKM Partners' price target and is at an all-time high, MKM Partners said. Analysts believe the stock is now fully valued and they cannot justify further valuation upside, MKM Partners also said.
Mannkind (MNKD) was downgraded at J.P. Morgan to underweight from neutral. Affrezza may struggle to bounce back from difficult launch, J.P. Morgan said.
Monster Beverage (MNST) was upgraded at Citigroup to buy from neutral. Twelve-month price target is $155. Stock has pulled back 10%, but the long-term growth potential remains attractive, Citigroup said.
National-Oilwell Varco (NOV) was downgraded at Citigroup to sell. Twelve-month price target is $45. Valuation call, as the stock is already pricing in an industry recovery, Citigroup said.
NetApp (NTAP) was downgraded at Pacific Crest to underweight from sector weight. Company is facing secular risks and increased competition, Pacific Crest said.
Southwestern Energy (SWN) was upgraded at Barclays to overweight from equal weight. Twelve-month price target is $29. Analysts expect SWN to deliver strong production growth rates yet the shares trade at a 15% discount to peers in 2016 estimates, Barclays said.
Sprouts Farmers Market (SFM) was upgraded to outperform from market perform at BMO Capital. Valuation call, based on a $34 price target, BMO Capital said.
Teekay Tankers (TNK) was downgraded at Deutsche Bank to hold from buy. Twelve-month price target is $7. Valuation call, Deutsche Bank said. Current price of about $6.23 is close to Deutsche Bank's $7 price target, and supply growth concerns persist, Deutsche Bank also said.
Web.com (WWWW) was upgraded at Deutsche Bank to buy from hold. Twelve-month price target is $28. Web.com has the best risk/reward in the Web site presence and tool provider space, Deutsche Bank said. Shares are still down 40% from their 2014 peak as multiples compressed by 20% to 25% in 2014 after the company stumbled on the NS integration, Deutsche Bank also said. Analysts think the reset is largely behind the company at this time and expect to see stable growth sequentially in 2015, Deutsche Bank said.
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