Apple May See Growth Ahead; PepsiCo, Corning Ratings Cut

In Monday's Analysts' Actions, TheStreet highlights upgrades, upbeat comments on Apple (AAPL), and a couple of downgrades on PepsiCo (PEP) and Corning (GLW). Analysts at Societe Generale raised their rating on the iPhone maker to BUY from HOLD. The firm maintained its $140 price target, and said it expects continuing sales growth from the App Store. Analysts at Susquehanna lowered their rating on the soda and snacks giant PepsiCo to NEUTRAL from POSITIVE. The firm sees a lower chance of a company split or a buyout offer. And Corning was downgraded to UNDERPERFORM from NEUTRAL by analysts at Bank of America/Merrill Lynch. The firm also reduced its price target to $16, saying it no longer thinks Corning can reach its flat display profitability target in 2015. TheStreet's Kurumi Fukushima reports in New York.