Archer-Daniels (ADM) was upgraded to outperform at BMO Capital. $48 price target. The company should reach an inflection point in the second quarter, BMO said.
Anthem (ANTM) was downgraded to neutral from buy at Sterne Agee. Earnings estimates were also cut, as earnings quality is soft, Sterne said.
CF Industries (CF) was downgraded to underperform from neutral at Bank of America/Merrill Lynch. $29 price target. Investors should be cautious about near-term fundamentals, analysts said.
Deere (DE) was upgraded to outperform from market perform at BMO Capital. $96 price target. The company is under-owned and is attractively valued based on peak earnings, BMO said.
Forward Air (FWRD) was upgraded to outperform from sector perform at RBC Capital. $52 price target. The outlook has improved, following the integration of the Towne Air deal, RBC said.
Johnson Controls (JCI) was upgraded to outperform from neutral at Credit Suisse. $50 price target. The valuation is more attractive, as the market is giving little value to an Adient spinoff and Tyco synergies, Credit Suisse said.
Western Digital (WDC) was upgraded to outperform from market perform at Cowen. $50 price target. Expectations are low and the company is expanding its total addressable market, Cowen said.