A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/equitybriefdaily) and Equity Brief:
BTIG Research initiated coverage on shares of H&R Block, Inc. (HRB). They issued a buy rating on the stock.
Stifel Nicolaus upgraded shares of International Flavors & Fragrances Inc. (IFF) from a hold rating to a buy rating. Stifel Nicolaus now has a $72.00 price target on the stock.
Hudson Square Research initiated coverage on shares of Imax Corporation (IMAX). They issued a buy rating on the stock and set a $28.00 price target.
Argus upgraded shares of Kinder Morgan Energy Partners LP (KMP) from a hold rating to a buy rating. Argus now has a $93.00 price target on the stock.
FBR Capital raised its price target on shares of Kansas City Southern (KSU) from $85.00 to $90.00. They have an outperform rating on the stock.
BMO Capital Markets downgraded shares of Kansas City Southern (KSU) from a market perform rating to an underperform rating.
BB&T downgraded shares of Kansas City Southern (KSU) from a buy rating to a hold rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
Barclays Capital upgraded shares of Meritor (MTOR) from an equal weight rating to an overweight rating.
Goldman Sachs downgraded shares of Manitowoc Company, Inc. (MTW) from a buy rating to a neutral rating.
Longbow Research downgraded shares of Manitowoc Company, Inc. (MTW) to a neutral rating.
Caris & Co. downgraded shares of ON Semiconductor (ONNN) from a buy rating to an average rating.
Credit Suisse downgraded shares of Public Service Enterprise Group Inc. (PEG) from a neutral rating to an underperform rating. They wrote, "We think PEG has a good combination of growing regulated utilities, diversified generation fleet, and quality balance sheet but also see the company as the least levered to an eventual cyclical recovery in power with the highest outyear generation multiples as meaningfully in-the-money power hedges roll-off over the next several years. . We see meaningful backwardation in Power's earnings as legacy hedges fall away, bringing our EPS estimates down through 2015 with an effectively soft landing beyond then. We believe investors looking to own commodity cyclical businesses will be more attracted to names that offer more recovery potential assuming power markets turn at some point."
Goldman Sachs initiated coverage on shares of Public Storage (PSA). They issued a neutral rating on the stock.
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