NEW YORK (TheStreet) -- RATINGS CHANGES
CNX Coal Resources (CNXC) was started at outperform by Credit Suisse, which set a $22 price target, citing good assets and a challenging industry.
DealerTrack Techonlogies (TRAK) was downgraded to market perform from outperform by Wells Fargo said, which gave a valuation range $63 to $64. The downgrade reflects the pending acquisition by Cox Automotive, a provider of digital marketing, wholesale and ecommerce solutions for the automotive industry, Wells Fargo said.
Flotek Industries (FTK) was upgraded to perform from underperform by Oppenheimer, which set a $17 price target, saying that second-quarter results were exceptionally strong and the company appears to have reached a "tipping point" where Flotek believes it has convinced operators of the efficacy and value of its CnF.
Lear Corp. (LEA) was upgraded to buy from hold by Deutsche Bank, which set a $122 price target, saying that risks are positively skewed for the intermediate term.
Qualcomm (QCOM) was upgraded to overweight from equal weight by Morgan Stanley, which set a $75 price target. The upgrade comes as a result of continued market leadership, more positive chip industry structure and conditions, multiple upside drivers to estimates and an attractive valuation, Morgan Stanley said.
Quality Systems (QSII) was upgraded to sector perform from underperform by RBC Capital Markets, which set a $14 price target. The price target has been achieved and significant challenges remain, RBC said.
Sunesis Pharmaceuticals (SNSS) was downgraded to hold from buy by Cantor Fitzgerald, which set a $2 price target, citing disappointing FDA guidance that will require new clinical data to be generated before an NDA for QINPREZO can be submitted.
Ultragenyx Pharmaceutial (RARE) was downgraded to equal weight from overweight by Morgan Stanley, which set a $126 price target, saying that valuation is stretched, increasing execution risk on the pipeline.
Ventas (VTR) was upgraded to outperform from market perform by BMO, which set a $74 price target ahead of the spinoff of Care Capital Properties in September, which should be a catalyst for a re-rating.
Weatherford International (WFT) was upgraded to equal weight from underweight by Barclays, which set a $12 price target, saying that downside risk is mitigated.