NEW YORK (TheStreet) -- RATINGS CHANGES
Deere (DE) was downgraded at Robert Baird to neutral from outperform. Twelve-month price target is $98. Company lacks near-term catalysts, Baird said.
East West Bancorp (EWBC) was downgraded at BMO Capital to market perform from outperform. Valuation call, based on a $44 price target, BMO Capital said.
Expedia (EXPE) was upgraded at JMP Securities to outperform from market perform. Twelve-month price target is $130. Company is gaining market share and executing well across the globe, JMP Securities said.
First Solar (FSLR) was downgraded at RBC Capital to underperform from sector perform. Twelve-month price target is $34. Expect flatter revenue growth this year and next, RBC Capital said.
Fortinet (FTNT) was upgraded at Needham to buy from hold. Twelve-month price target is $48. Company should see higher enterprise sales, Needham said.
Headwaters (HW) was downgraded at Wedbush to neutral from outperform. Twelve-month price target is $21. Sales growth is decelerating, Wedbush said.
Party City (PRTY) was initiated with a buy rating at Deutsche Bank. Twelve-month price target is $25. Vertical business model should see more leverage as the company gains more shelf share, Deutsche Bank said.
Pebblebrook Hotel Trust (PEB) was upgraded at Credit Suisse to outperform from neutral. Twelve-month price target is $50. The stock has materially underperformed its peers since February (down 16% vs. down 9% for peers), and now trades at a 13% discount to net asset value, Credit Suisse said. PEB owns the "best" hotel portfolios in the sector, Credit Suisse added.
Regency Centers (REG) was downgraded at Credit Suisse to underperform from neutral. $67 price target. Valuation call coupled with a lack of identifiable catalysts, Credit Suisse said. REG is a high-quality company and management team, but its current relative valuation more than reflects that, Credit Suisse added.
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