AK Steel (AKS) was upgraded to buy from hold at Jefferies. $6.25 price target. Domestic steel prices have bottomed and the company has cleaned up its balance sheet, Jefferies said.
Bemis (BMS) was downgraded to neutral from buy at Bank of America/Merrill Lynch. $54 price target. Earnings quality is declining, analysts said.
Cardinal Health (CAH) was downgraded to neutral from outperform at Robert Baird. $82 price target. The company is facing increased competition, Baird said.
California Water (CWT) was downgraded to underweight at Barclays. $28 price target. Earnings estimates were also cut, given a reduction to the base rate, Barclays said.
GNC (GNC) was downgraded to underperform from neutral at Bank of America/Merrill Lynch. $13 price target. Business trends continue to decline and the analysts see a lower chance of a takeout.
L-3 Communications (LLL) was downgraded to hold at Drexel Hamilton. The valuation is less attractive, as growth is slowing, Drexel said.
Level 3 Communications (LVLT) was upgraded to outperform at Oppenheimer. $60 price target. Possible CenturyLink deal would be attractive, Oppenheimer said.
McKesson (MCK) was downgraded to market perform at Leerink Partners. $60 price target. Pricing is deflating because of increased competition, Leerink said.
McKesson was downgraded to hold from buy at Deutsche Bank. $153 price target. The company cut guidance and lacks near-term visibility, Deutsche said.
Mead Johnson (MJN) was downgraded to neutral from overweight at JPMorgan. $75 price target. Management has reduced guidance five times in the past six quarters, JPMorgan said.
ServiceNow (NOW) was upgraded to outperform at BMO Capital. $97 price target. The company appears to be firing on all cylinders, BMO said.
Old Dominion (ODFL) was downgraded to underperform from neutral at Bank of America/Merrill Lynch. $73 price target. The valuation is less attractive, as the stock is trading at 18.5x expected 2017 earnings, analysts said.
Proto Labs (PRLB) was downgraded to hold from buy at Canaccord Genuity. $47 price target. Increased competition may delay a return to historical growth rates, Canaccord said.
Raymond James (RJF) was downgraded to market perform from outperform at JMP Securities. The valuation is less attractive, based on a $70 price target, JMP said.
Qualcomm (QCOM) was upgraded to market perform from underperform at BMO Capital. The valuation is more attractive, based on a $70 price target, BMO said.
Twitter (TWTR) was upgraded to perform from underperform at Oppenheimer. The valuation has settled with the fundamental outlook, Oppenheimer said.
World Wrestling (WWE) was downgraded to sector weight at Pacific Crest. The company will not likely be able to achieve long-term U.S. subscriber goals, Pac Crest said.