CHANGE IN RATINGS
Allegheny Technologies (ATI - Get Report) was downgraded from buy to hold at Deutsche Bank said. $15 price target. Company is being hurt by stainless steel pricing and lower demand for flat rolled products.
Coach (COH) was upgraded from Underweight to Equal-weight at Morgan Stanley said. $27 price target. Valuation call, as the stock is down 20% year-to-date.
Cepheid (CPHD) downgraded at Canaccord to Hold. $34 price target. Company will likely struggle to meet its 2017 goals.
Harley-Davidson was downgraded from Outperform to Market Perform, BMO Capital said. $54 price target. Company cut its shipment guidance.
Memorial Resource (MRD) was upgraded from Neutral to Buy, Goldman Sachs said. $23 price target. Company is attractively valued and has multiple potential catalysts.
Micron was downgraded from Strong Buy to Hold at Needham. Company will be hurt by Intel's expansion into the NAND market.
VMWare was downgraded from Buy to Neutral at Bank of America/Merrill Lynch. $69 price target. Company cut guidance across the board.
VMWare was downgraded at Sterne Agee to Neutral. $75 price target. Company is guiding toward lower margins.
Stock Comments / EPS Changes
Verizon (VZ - Get Report) estimates, target raised at Goldman. Shares of VZ now seen reaching $49, according to Goldman Sachs. Estimates also increased, given better wireless metrics. Neutral rating and new $49 price target.
Yahoo! (YHOO) estimates, target cut at Credit Suisse. Shares of YHOO now seen reaching $53, according to Credit Suisse. Estimates also reduced, given lower sales. Neutral rating.