Discovery Gets Upgraded & Downgraded; Domino's & Estee Lauder Cut

Discovery Communications (DISCA) gets upgraded and downgraded; Domino's Pizza (DPZ) and Estee Lauder (EL) are downgraded in Wednesday's Analysts' Actions. Discovery was upgraded at Pivotal Research to BUY from HOLD. The twelve-month price target is $40. That's about a 17% increase from the stock's previous close. The firm said the quarter was not as bad as it appeared. At the same time, Discovery was downgraded at Sterne Agee to NEUTRAL from BUY. The price target there is $35.50. The analysts at Stern Agee said they expect domestic advertising growth to remain weak. Miller Tabak cut its rating to HOLD from BUY for Domino's Pizza saying it was a valuation call on the $90 price target they have for the stock. Estee Lauder is looking less attractive to Wells Fargo. The cosmetics company was downgraded to MARKET PERFORM from OUTPERFORM. The price target range was also reduced by about $6. The firm says the revision stems from Estee Lauder facing more global competition.