Microsoft and Hess Downgraded, Goldman Bullish on GrubHub

Microsoft (MSFT) and Hess (HES) are downgraded while GrubHub (GRUB) is upgraded in Tuesday's Analysts' Actions. Microsoft was revised lower at Bank of America and is now rated an UNDERPERFORM from NEUTRAL. The analyst there made the call saying the stock is up more than 27% YTD and increased valuation gives them cause for concern. The price target is set at $47. Hess was downgraded at Morgan Stanley to EQUAL WEIGHT from OVERWEIGHT saying they see 'limited further relative upside.' Morgan Stanley has a $73 price target for the stock. GrubHub was upgraded at Goldman Sachs to BUY from NEUTRAL. The price target was also bumped up by a buck to $43 a share. Goldman believes the online food delivery service provider can continue to deliver solid organic growth.