Alibaba (BABA) was initiated with an overweight rating at Pacific Crest. $134 price target. Monetization on core e-commerce is likely to increase, Pac Crest said.
Centene (CNC) was downgraded to neutral from buy at Citigroup. $73 price target. With or without AHCA, the company is facing a squeeze on Medicaid, Citi said.
Dollar General (DG) was downgraded to underperform from neutral at Credit Suisse. $62 price target. Earnings estimates were also cut, given increased competition and cost pressures, Credit Suisse said.
Dollar Tree (DLTR) was upgraded to neutral from underperform at Credit Suisse. $73 price target. The company may be one of the few large retailers to grow earnings this year, Credit Suisse said.
FireEye (FEYE) was upgraded to buy from sell at Goldman Sachs. $15 price target. Despite a difficult quarter, Helix can drive future growth, Goldman said.
Kroger (KR) was upgraded to outperform at RBC Capital. $37 price target. The company is a market leader and should benefit from food inflation, RBC said.
Altria (MO) was downgraded to underperform at RBC Capital. $62 price target. The valuation is less attractive, as the company is trading at a premium to the RAI takeover price, RBC said.
Norfolk Southern (NSC) was downgraded to underperform at RBC Capital. $113 price target. The valuation is stretched and efficiency targets will be much harder to achieve, RBC said.
Proofpoint (PFPT) was downgraded to sell from neutral at Goldman Sachs. $69 price target. The company has a premium valuation, even though primary product cycles are fading, Goldman said.