Merck was upgraded to overweight from neutral at Piper Jaffray. $72 price target. Expect conditional approval for Keytruda by May, Piper said.
Northrop Grumman (NOC) was downgraded to hold from buy at Jefferies. The valuation is less attractive, based on a $243 price target, Jefferies said.
Vectren (VVC) was upgraded to overweight at Keybanc. $62 price target. The growth outlook is improving, as well as demand for pipelines, Keybanc said.
U.S. Steel (X - Get Report) was downgraded to market weight from overweight at Credit Suisse. $30 price target. The industry will likely experience rising supply in the coming quarters, Credit Suisse said.