Asbury Auto (ABG) was upgraded to buy from neutral at Bank of America/Merrill Lynch. This was a valuation call, based on a $104 price target, said BofA/Merrill.
Baker Hughes (BHI) was upgraded to buy from hold at Argus. $78 price target. Stock is discounting the current bid from Halliburton, Argus said.
Community Health (CYH) was downgraded to neutral at Bank of America/Merrill Lynch. $42 price target. The company is realizing lower margins and has low visibility, BofA/Merrill said.
Kinder Morgan (KMI) was downgraded to neutral from outperform at Credit Suisse. $39 price target. Company cut its growth guidance for the first time ever, Credit Suisse said.
Seres Therapeutics (MCRB) was upgraded to buy from neutral at Bank of America/Merrill Lynch. This was a valuation call, based on a $41 price target, BofA/Merrill said.
MSG Networks (MSGN) was downgraded to equal-weight at Morgan Stanley. $21 price target. Company is facing increased risks from cord-shaving trends, Morgan Stanley said.
Polaris (PII) was downgraded to market perform from outperform at Wells Fargo. There is potential for slower off-road vehicle industry growth, Wells said.
Sanmina (SANM) was downgraded to sell from neutral at Goldman Sachs. $20 price target. Valuation appears high, given deteriorating end-market demand, said Goldman.
VMware (VMW) was downgraded to perform at Oppenheimer. The company is facing increased competition and investing more in future growth, Oppenheimer said.
Valeant (VRX) was downgraded to market perform at BMO Capital. $141 price target. Specialty pharmacy model adds risks to the thesis, said BMO.