RATINGS CHANGES

Amphenol (APH - Get Report) was downgraded to neutral from buy at Goldman Sachs. The valuation isn't as attractive, based on a $57 price target, Goldman said. 

Arrow Electronics (ARW - Get Report) was upgraded to buy from neutral at Goldman Sachs. $69 price target. The company is leveraged to an improved cyclical outlook, Goldman said. 

Big Lots (BIG - Get Report) was upgraded to buy at TheStreet Ratings. You can view the full analysis from the report here: BIG.

Cabot (CBT - Get Report) was downgraded to neutral from overweight at JPMorgan. $47 price target. The valuation is less attractive, given the stock's 18% year-to-date rally. 

Chemours (CC - Get Report) was upgraded to buy from neutral at Goldman Sachs. $10 price target. The company is cutting costs and has substantial cyclical upside, Goldman said. 

Equinix (EQIX - Get Report) was downgraded to perform at Oppenheimer. The valuation is less attractive, as the company is trading at 17 times expected full-year EBITDA, Oppenheimer said. 

W.R. Grace (GRA - Get Report) was downgraded to neutral from buy at Goldman Sachs. The valuation isn't as attractive, based on a $77 price target, Goldman said.

HCA (HCA - Get Report) was upgraded to overweight from neutral at JPMorgan. $85 price target. Labor cost trends do not appear to be as bad as expected, JPMorgan said. 

Johnson & Johnson (JNJ - Get Report) was upgraded to neutral from sell at Goldman Sachs. $112 price target. The company can unlock value by selling its consumer business, Goldman said. 

Kate Spade (KATE) was upgraded to buy at TheStreet Ratings. You can view the full analysis from the report here: KATE.

Macy's (M - Get Report) was initiated with a hold rating at Jefferies. $45 price target. The company lacks near-term catalysts, Jefferies said.

Monsanto (MON) was downgraded to neutral at Citigroup. $95 price target. The company lacks near-term catalysts, Citigroup said. 

Team Health (TMH) was downgraded to neutral from overweight at JPMorgan. The valuation isn't as attractive, based on a $47 price target. 

Tesla Motors (TSLA - Get Report) was upgraded to neutral from outperform at Robert Baird. $300 price target. Production appears to be accelerating, which should drive margin expansion, Robert Baird said.

This article was written by a staff member of TheStreet.