NEW YORK (TheStreet) -- RATINGS CHANGES
Edwards Lifesciences (EW) was upgraded at J.P. Morgan to overweight from neutral. Twelve-month price target is $155. The long-term story is more than intact, stronger today than it was two months ago, as analysts' confidence in the conversion of the SAVR market (surgical valve replacement) to TAVR (transcatheter replacement) increased significantly at this year's annual meeting of the American College of Cardiology, J.P. Morgan said.
Gap (GPS) was downgraded at FBR Capital Markets to market perform from outperform. Twelve-month price target is $40. Company will likely see lower margins, FBR Capital Markets said.
Infinera (INFN) was initiated with a buy rating at Deutsche Bank. Analysts have a differentiated long view, noting INFN as a pure play on the "Cloud Optical" opportunity -- i.e., 40/100G+ optical data-center interconnects for Web 2.0 and Cloud seeing mid double-digit capex spending CAGR, Deutsche Bank said.
Juniper (JNPR) was upgraded at Bank of America/Merrill to buy from neutral. Twelve-month price target is $34. New products should drive growth in the coming quarters, Bank of America/Merrill Lynch said.
LivePerson (LPSN) was downgraded at Credit Suisse to neutral from outperform. Twelve-month price target is $8. The first quarter of 2015 was roughly in line, but management was forced to lower its 2015 revenue guidance by $21 million (down 10% year over year at the midpoint), mostly due to the loss of AT&T (T) as a pay-for-performance chat customer, with the rest stemming from foreign exchange and a slow sales start to the year, Credit Suisse said.
Portland General Electric (POR) was downgraded at J.P. Morgan to neutral from overweight. Twelve-month price target is $36. Recent company communication regarding future growth plans and cash return moving forward has fallen short of analysts' expectations, J.P. Morgan said.
Paratek Pharmaceuticals (PRTK) was initiated with a buy rating at Cantor Fitzgerald. Twelve-month price target is $35. Analysts' rating and price target are based on omadacycline's expected peak revenue of $1 billion by 2028, Cantor Fitzgerald said.
Rackspace (RAX) was downgraded at Morgan Stanley to equal-weight. Twelve-month price target is $49. Sales growth is decelerating, Morgan Stanley said.
Tokai Pharmaceuticals (TKAI) was initiated with an outperform rating at Oppenheimer. Twelve-month price target is $38. Tokai's flagship compound, galeterone, initially addresses a clear unmet medical need in prostate cancer, i.e., castration-resistant prostate cancer patients with tumor-expressing androgen receptor split variants (AR-V7) for whom recently approved novel agents such as Zytiga and Xtandi are not expected to be effective, Oppenheimer said.
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