American Electric Power (AEP) was upgraded to outperform from market perform at Wells Fargo. The company warrants a premium valuation, given its higher earnings growth potential, Wells said.
American Express (AXP) was upgraded to outperform from perform at Oppenheimer. The valuation is more attractive, based on a $98 price target.
Discovery (DISCA) was downgraded to underperform from neutral at Credit Suisse. $23 price target. Lower ratings should hurt domestic advertising rates, Credit Suisse said.
E-Trade Financial (ETFC) was upgraded to buy from neutral at Goldman Sachs. $43 price target. The company is leveraged to rising interest rates and is keeping a tight lid on costs, Goldman said.
Kennametal (KMT) was upgraded to overweight at Keybanc. $40 price target. The company is poised to benefit from an improving business cycle, Keybanc said.
Time (TIME) was upgraded to outperform at Wells Fargo. The valuation is more attractive, based on a potential combination with Meredith, Wells said.
UMB Financial (UMBF) was downgraded to neutral from overweight at Piper Jaffray. The valuation is less attractive, based on a $78 price target.
Xerox (XRX) was upgraded to buy from neutral at Goldman Sachs. $8.50 price target. The company is focused on generating strong free-cash flow, Goldman said.