NEW YORK (TheStreet) -- RATINGS CHANGES
Chesapeake Energy (CHK) was upgraded to buy from underperform by Sterne Agee, which set a $13 price target, saying sentiment will likely reverse in the near term. Estimates were also increased, as management is cutting costs, Sterne Agee said.
JPMorgan Chase (JPM) was downgraded to outperform from perform by Oppenheimer, which cited valuation, as the price has outpaced industry fundamentals.
Macy's (M) was downgraded to sell from buy by Deutsche Bank, which set a $63 price target, saying that sales will likely remain muted and that the company is facing rising operating costs.
MBIA (MBIA) was downgraded to buy from neutral by BTIG, which noted that the company has over $4 billion of exposure to Puerto Rico debt.
Qualcomm (QCOM) was downgraded to sell from hold by Drexel Hamilton, which set a $55 price target, saying the company is facing increased price competition.
Ryder (R) was raised to buy from hold by Stifel, which set a $104 price target, saying the company can increase its market share and improve its operating leverage.
SunTrust (STI) was downgraded to perform from outperform by Oppenheimer, which said the stock has run, but industry fundamentals remain muted.