UBS upgraded UPS (UPS) and FedEx (FDX) to buy from hold based on recent weakness and leverage to a recovery. The firm raised its price target on UPS to $74 from $72 and on FedEx to $100 from $97.
- Bernstein upgraded Medicis (MRX) to outperform from market perform based on valuation and said the company has been executing well over the past few months. The firm has a $28 price target on the stock.
- Citigroup upgraded Weingarten Realty (WRI) to buy from hold, citing valuation and the company's improved balance sheet. The firm maintains a $24 price target for shares.
- Home Depot (HD) and Lowe's (LOW) were upgraded to market perform from underperform at BMO Capital.
- NextEra Energy (NEE) was upgraded to outperform from neutral at Baird.
- Nokia (NOK) was upgraded to neutral from reduce at WestLB.
Analyst Downgrades
- BB&T cut Amedisys (AMED) to hold from buy and said the SEC investigation seems broader in scope and that it creates increased headline risk for the company. The firm expects Almost Family (AFAM), Gentiva Health (GTIV) and LHC Group (LHCG) to also be pressured today on the news.
- Jefferies downgraded Lionsgate (LGF) to hold from buy following the expiration of Carl Icahn's tender offer.
- Baird downgraded shares of Wisconsin Energy (WEC) to neutral from outperform, citing valuation. The firm has a $55 target on the stock.
- Credicorp (BAP) was downgraded to underweight from equal weight at Barclays.
- Hess Corp. (HES) was downgraded to equal weight from overweight at Morgan Stanley.
- Douglas Emmett (DEI) was downgraded to hold from buy at Stifel Nicolaus.
Analyst Initiations- RBC Capital initiated M&T Bank (MTB) with a sector perform rating and $89 target.
- Piper Jaffray assumed J.B. Hunt (JBHT) with an overweight rating and $42 target.
- KeyBanc started Tanger Factory (SKT) with a buy rating and $48 target.
- Host Hotels (HST) and Hyatt Hotels (H) were initiated with hold ratings at Hudson Securities. The firm also initiated Starwood Hotels (HOT), Marriott (MAR) and Wyndham (WYN) with buy ratings.
- Forest Labs (FRX) was initiated with a neutral rating and $27 target at Credit Suisse.
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