NEW YORK (TheStreet) -- RATINGS CHANGES

Aetna (AET) was upgraded to buy from neutral by Bank of America/Merrill Lynch, which set a $132 price target, citing valuation, as the stock has pulled back 12% over the past week.

Baxter (BAX - Get Report) was downgraded to market perform by Leerink Partners, which cited valuation, based on a $40 price target.

BP (BP - Get Report) was upgraded to buy from hold by Argus, which set a $42 price target, saying that the company has settled Deepwater Horizon claims and can maintain its dividend.

Choice Hotels (CHH - Get Report) was upgraded to neutral from underweight by JP Morgan, which set a $51 price target. The upgrade is a valuation call, as the stock is down 25% since April, JP Morgan said.

Depomed (DEPO) was downgraded to sector perform by RBC Capital, which set a $32 price target, citing valuation, as the stock is up 98% year-to-date.

First Interstate (FIBK - Get Report) was upgraded to overweight from neutral by Piper Jaffray, which set a $33 price target, saying the company is seeing higher growth and the new CEO should be more proactive with capital management.

Garmin (GRMN - Get Report) was downgraded to underweight from neutral by JP Morgan, which set a $40 price target. Estimates have also been cut, given decelerating growth in the fitness segment, JP Morgan said.

General Dynamics (GD - Get Report) was downgraded to hold from buy by Drexel Hamilton, which cited valuation, as the stock is up 9% year to date.

HD Supply (HDS - Get Report) was upgraded to outperform from sector perform by RBC Capital, which set a $41 price target, saying that deleveraging is poised to accelerate.

Oracle (ORCL - Get Report) was upgraded to buy from hold by Jefferies, which set a $50 price target, saying that new products should drive growth in the coming quarters.

Open Text (OTEX - Get Report) was upgraded to outperform from sector perform by RBC Capital Markets, which set a $55 price target, saying that Open Text is the "unsung" Canadian consolidator.

PG&E (PCG - Get Report) was downgraded to neutral from outperform by Credit Suisse, which set a $58 price target, saying that estimates have also been cut, given the company's new guidance.

Southwest Airlines (LUV - Get Report) was upgraded to overweight from neutral by JP Morgan, which set a $50 price target, citing valuation, as the stock is down 13% over the past two months.

U.S. Steel (X - Get Report) was upgraded to overweight from neutral by JP Morgan, which set a $18 price target, saying that domestic steel fundamentals appear to be bottoming.

Whole Foods (WFM) was downgraded to hold from buy by Canaccord Genuity, which set a $38 price target, saying that increased competition is weighing on comp sales growth.

Whole Foods (WFM) was downgraded to neutral by Sterne Agee, which set a $40 price target and said that estimates have also been cut, as the company is facing increased competition.

Whole Foods (WFM) was downgraded to neutral from outperform by Wedbush, which set a $40 price target, saying that comp sales growth is decelerating.

WW Grainger (GWW - Get Report) was downgraded to underperform from sector perform by RBC Capital Markets, which set a $205 price target, saying the company has limited pricing power.

Yelp (YELP - Get Report) was downgraded to neutral from buy by MKM Partners, which set a $25 price target, saying that talent retention is a problem with no easy fix.