NEW YORK (TheStreet) -- RATINGS CHANGES
AT&T (T) was upgraded at J.P. Morgan to overweight from neutral. Twelve-month price target is $40. Analysts have an updated model that accounts for DirecTV (DTV) and Mexican acquisitions, J.P. Morgan said. Analysts raised their 2016 earnings-per-share estimate to $2.80 from $2.50, and their $40 price target implies a 14.1x forward price-to-earnings ratio and a 4.7% dividend yield, J.P. Morgan also said.
Diebold (DBD) was upgraded at J.P. Morgan to neutral from underweight. Twelve-month price target is $39. Expect better sales growth and higher margins in the coming quarters, J.P. Morgan said.
Dillard's (DDS) was downgraded at Credit Suisse to underperform from neutral. Twelve-month price target is $100. Future sales and margin growth could prove difficult, Credit Suisse said.
Genuine Parts (GPC) was upgraded at Wedbush to outperform from neutral. Twelve-month price target is $108. Valuation call, as the stock is down 15% year to date, Wedbush said.
Energizer (ENR) was downgraded at Morgan Stanley to equal-weight. Valuation call, based on a 12-month price target of $140.
Steris (STE) was downgraded at Keybanc to equal-weight from overweight. Company is facing increased legal scrutiny, Keybanc said.
Nordstrom (JWN) was downgraded at Credit Suisse to neutral from outperform. Twelve-month price target is $76. Company will likely increase spending in the next several quarters, Credit Suisse said.Verizon ( VZ) was downgraded at J.P. Morgan to neutral from overweight. Twelve-month price target is $55. While the acquisition of AOL ( AOL) provides a significant advertising technology platform for Verizon, any substantial revenue impact could take a few years to materialize, J.P. Morgan said.
Wendy's (WEN) was downgraded at Wedbush to neutral from outperform. Twelve-month price target is $12. Company lacks near-term catalysts, Wedbush said.
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