Upgrade for Express, Williams-Sonoma and Transocean Get Shafted

An upgrade for Express, but Williams-Sonoma and Transocean get the shaft in Wednesday's Analysts' Actions. Fashion retailer Express has been upgraded to OVERWEIGHT at Piper Jaffray with a price target of $16 a share. Analysts said the store is offering fewer sales which bodes well for margins this quarter. Williams-Sonoma was downgraded to NEUTRAL at Piper Jaffray. The firm said the home goods retailer had higher promotional activity over the long weekend. Transocean was initiated at UNDERPERFORM at BMO Capital with a $16 price target. he firm said the company has too high an exposure to midwater rigs.