NEW YORK (TheStreet) -- RATINGS CHANGES
Bruker (BRKR) was downgraded at William Blair to market perform. CFO departure is a negative, William Blair said.
Charter (CHTR) was upgraded at Wunderlich to buy from hold. Twelve-month price target is $221. Valuation call, given the likelihood for increased consolidation in the industry, Wunderlich said.
3D Systems (DDD) was downgraded at Oppenheimer to perform from outperform. Stock has already dropped, but the company still has several operational issues to address, Oppenheimer said.
Dick's Sporting Goods (DKS) was upgraded at BMO Capital to outperform. Twelve-month price target is $63.Company can deliver consistent, double-digit annual growth in the next few years, BMO Capital said.
Equinix (EQIX) was downgraded at Stifel to hold from buy. Stifel removed its 12-month price target of $285. Shares are fairly valued, with few remaining positive catalysts following Wednesday's positive private letter ruling announcement on REIT conversion, Stifel said.
NetApp (NTAP) was downgraded at Cantor Fitzgerald to hold from buy. Twelve-month price target is $35. The combination of secular challenges and execution/transition issues leaves NTAP vulnerable to customer retention issues and market share losses in a very competitive storage market, Cantor Fitzgerald said.
NetApp was downgraded at J.P. Morgan to underweight from neutral. Twelve-month price target is $29. The company guided fiscal first-quarter revenue that were 10.9% below J.P. Morgan's numbers and then proceeded to indicate that revenue for all of fiscal 2016 would be flat "at best" year over year. According to NetApp, all of this trouble is due to slow customer adoption of Cluster ONTAP due to the need for both process changes and new equipment, J.P. Morgan said.
Rexnord (RXN) was downgraded at Wedbush to neutral from outperform. Twelve-month price target is $27. Company was also cut from the Best Ideas list, as it is facing global growth headwinds, Wedbush said.
Stratasys (SSYS) was upgraded at Oppenheimer to outperform from perform. Valuation call, as earnings should bottom out this year, Oppenheimer said. Twelve-month price target is $50.
Woodward (WWD) was upgraded at Keybanc Capital Markets to sector weight from underweight. No price target. Upgrade follows announcement that WWD is forming a joint venture with General Electric (GE) and will use the $250 million cash infusion to buy back about 7.7% of its stock over the next 12 months, Keybanc Capital Markets said.Must Read: 11 Safe High-Yield Dividend Stocks for Times of Volatility and Uncertainty
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