RATINGS CHANGES

Arista Networks (ANET - Get Report) was upgraded to outperform from perform at Oppenheimer. $90 price target. Cisco Systems (CSCO - Get Report) patent claims should not disrupt the company's business, Oppenheimer said. 

Franklin Resources (BEN - Get Report) was downgraded to underperform from neutral at Credit Suisse. $37 price target. Analysts expect large future outflows and margin pressures, Credit Suisse said. 

Brown-Forman (BF.B - Get Report) was downgraded to sector perform at RBC Capital Markets. $109 price target. The valuation looks less attractive after the stock gained 17% in 2015, RBC said. 

Black Hills (BKH - Get Report) was upgraded to outperform at RBC Capital Markets. $55 price target. The stock is attractively valued ahead of potential 2017 catalysts, RBC said.

Chico's FAS (CHS - Get Report) was downgraded to hold at Jefferies. $12 price target. The company has a new CEO, but limited visibility for a quick turnaround, Jefferies said.

Fossil (FOSL - Get Report) was downgraded to hold at Jefferies. $40 price target. The company is facing increased competition amidst slower demand, Jefferies said.

Colgate-Palmolive (CL - Get Report) was downgraded to sector perform at RBC Capital Markets. $71 price target. Currency pressure and weaker Latin American markets will limit earnings upside potential, RBC said. 

Chipotle (CMG - Get Report) was downgraded to perform at Oppenheimer. Earnings estimates were also reduced, given lower sales trends and risings costs, Oppenheimer said.

Carter's (CRI - Get Report) was upgraded to outperform from perform at Oppenheimer. $108 price target. The company has dominate market share in a relatively stable area of the market, Oppenheimer said. 

Equinix (EQIX - Get Report) was upgraded to perform from market perform at Wells Fargo. The valuation looks more attractive, as growth should accelerate, Wells said.

GameStop (GME - Get Report) was downgraded to neutral from buy at Sterne Agee. Holiday sales appear to have fallen short of expectations, Sterna Agee said. 

Hexcel (HXL - Get Report) was downgraded to neutral from buy at Goldman Sachs. $52 price target. Analysts see downside to aerospace original equipment demand, Goldman said. 

iRobot (IRBT - Get Report) was downgraded to neutral from overweight at Piper Jaffray. $35 price target. The valuation looks less attractive, given the limited upside potential to guidance, Piper said. 

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

Lululemon Athletica (LULU - Get Report) was upgraded to buy at Jefferies. $73 price target. Earnings estimates are also above consensus, as the company can grow margins, Jefferies said. 

McDonald's (MCD - Get Report) was upgraded to buy from neutral at Nomura Securities. $135 price target. The company has strong sales momentum, Nomura said. 

Netflix (NFLX - Get Report) was downgraded to neutral from outperform at Robert Baird. The valuation is less attractive, based on a $115 price target, Robert Baird said.

Portland General (POR - Get Report) was downgraded to underweight at Barclays. $35 price target. Earnings growth will likely slow in 2016, Barclays said. 

U.S. Cellular (USM - Get Report) was downgraded to neutral from overweight at JPMorgan. $43 price target. The business is improving slower than expected, JPMorgan said.

Voya Financial (VOYA - Get Report) was downgraded to hold at TheStreet Ratings. You can view the full analysis from the report here: VOYA.

Wendy's (WEN - Get Report) was upgraded to buy from neutral at Nomura Securities. $12.50 price target. Earnings estimates also increased, given strong sales momentum, Nomura said.

Watts Water (WTS - Get Report) was downgraded to perform from outperform at Oppenheimer. The valuation is less attractive as growth is lagging its peers, Oppenheimer said. 

This article was written by a staff member of TheStreet.