RATINGS CHANGES

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

Bank of New York Mellon (BK - Get Report) was upgraded to overweight from neutral at JPMorgan. The company is cutting costs and should benefit from rising interest rates, JPMorgan said. 

Cerner (CERN - Get Report) was upgraded to top pick from outperform at RBC Capital Markets. $75 price target. The company's outlook is improving, RBC said.

Comerica (CMA - Get Report) was upgraded to outperform from neutral at Robert Baird. $46 price target. Energy concerns are mostly discounted, with the stock trading near tangible book value, Robert Baird said.

Chipotle Mexican Grill (CMG - Get Report) was downgraded to hold at TheStreet Ratings. You can view the full analysis from the report here: CMG.

Capital One (COF - Get Report) was downgraded to hold from buy at Deutsche Bank. $81 price target. The company is facing multiple growth headwinds, Deutsche said. 

Discover Financial Services (DFS - Get Report) was upgraded to buy from hold at Deutsche Bank. $64 price target. The company has several sales growth catalysts, Deutsche said. 

First Cash Financial (FCFS - Get Report) was upgraded to buy from neutral at Sterne Agee. $45 price target. The company's Latin America acquisition should add to future earnings, Sterne Agee said. 

HP (HPQ - Get Report) was downgraded to market perform from outperform at Wells Fargo. The company lacks near-term catalysts, Wells said. 

Hubbell (HUBB - Get Report) was downgraded to neutral from overweight at JPMorgan. $110 price target. Earnings estimates were also cut,given pricing risk, JPMorgan said. 

Illumina (ILMN - Get Report) was downgraded to market perform from outperform at Wells Fargo. The valuation is less attractive, as the stock is valued at 48 times expected 2016 earnings, Wells said. 

Moody's (MCO - Get Report) was downgraded to neutral from overweight at Piper Jaffray. $112 price target. Analysts expect softer near-term debt issuance trends, Piper said. 

Mondelez (MDLZ - Get Report) was downgraded to hold from buy at Deutsche Bank. The valuation is less attractive, based on a $48 price target, Deutsche said. 

Olin (OLN - Get Report) was upgraded to buy from neutral at Nomura Securities. $23 price target. Expect higher caustic soda prices and lower natural gas costs, Nomura said.

Paychex (PAYX - Get Report) was downgraded to underperform at Bank of America/Merrill Lynch. $50 price target. The stock has been strong, despite structural risks and rising competition, analysts said. 

Pioneer Natural Resources (PXD - Get Report) was upgraded to buy from hold at Deutsche Bank. $165 price target. The company is leveraged to an eventual recovery in oil prices, Deutsche Bank said. 

State Street (STT - Get Report) was upgraded to neutral from underweight at JPMorgan. The company has improved its liquidity and is keeping a tight lid on costs, JPMorgan said. 

Willis Towers Watson (WLTW - Get Report) was downgraded to hold at TheStreet Ratings. You can view the full analysis from the report here: WLTW.

This article was written by a staff member of TheStreet.