RATINGS CHANGES

Avon Products (AVP - Get Report) was upgraded to buy at Sterne Agee CRT. $6 price target. The Cerberus deal has re-valued the business, Sterne Agee said. 

Boeing (BA - Get Report) was downgraded to market perform from outperform at Wells Fargo. Estimates were also cut, given lower aircraft pricing, Wells said. 

Salesforce.com (CRM - Get Report) was upgraded to outperform from neutral at Wedbush Securities. $96 price target. The company has strong sales momentum and can expand margins, Wedbush said. 

DuPont (DD - Get Report) was upgraded to buy from underperform at Bank of America/Merrill Lynch. $76 price target. The deal with Dow Chemical (DOW) has synergies that should drive growth, analysts said. 

Fossil (FOSL - Get Report) was downgraded to sell from neutral at Goldman Sachs. $26 price target. Estimates were also cut, given an expected watch industry correction, Goldman said. 

Joy Global (JOY) was downgraded to sell at TheStreet Ratings. You can view the full analysis from the report here: JOY.

Knight Transportation (KNX - Get Report) was downgraded to neutral at Citigroup. $25 price target. The company is seeing lower freight activity, Citigroup said. 

Kroger (KR - Get Report) was initiated with an outperform rating at Wells Fargo. The company has scale, executes better than its peers and consensus estimates appear conservative, Wells said. 

Mercury General (MCY - Get Report) was downgraded to hold at TheStreet Ratings. You can view the full analysis from the report here: MCY.

Microsoft (MSFT - Get Report) was upgraded to neutral from sell at Goldman Sachs. $57 price target. Estimates were also increased, as the company is expanding margins faster than expected, Goldman said. 

Charles Schwab (SCHW - Get Report) was downgraded to neutral from overweight at Piper Jaffray. The valuation is no longer as attractive, based on a $38 price target, Piper said. 

Williams (WMB - Get Report) was upgraded to buy at Wells Fargo. $43 price target. Expect its merger to close next March, which will drive cost synergies, Wells said.

This article was written by a staff member of TheStreet.