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:
Bank of America downgraded shares of Air Products & Chemicals, Inc. (APD) from a buy rating to a neutral rating.
Morgan Stanley downgraded shares of Arcos Dorados Holdings Inc. Class A Shares (ARCO) from an overweight rating to an equal weight rating.
Sterne Agee downgraded shares of BB&T (BBT) from a buy rating to a neutral rating. Their analysts now have a $32.00 price target on the stock, down previously from $37.00. They wrote, "We are downgrading BBT to Neutral from Buy as mgmt has become markedly more cautious on the outlook for '13, in part due to the persistent uncertainty and weak econ. Bottom line: expect. for grtr than expected NIM/spread press., elevated expns, and the likelihood for slowing loan growth will each serve to lower EPS growth over the near-interm. term. Estm:'13 $2.95 from $3.25; '14 $3.25 from $3.40. Essentially flat core EPS in '13 and high single digits in '14. Our PT moves down to $32 from $37."
Citigroup upgraded shares of BB&T (BBT) from a neutral rating to a buy rating. They wrote, "We have been on the sidelines with BBT hoping for an entry point as we like BBT's above-average profitability and growth, strong balance sheet and risk discipline - all of which make for an attractive long-term investment - but had felt it was full near-term. Plus, we believe BBT (like PNC and USB) is in the sweet spot in terms of regional banks, as it's large enough to get the best expense leverage, but not big enough to be weighed down by large capital requirements, and still has the option to grow via well-priced acquisitions where we believe opportunities will surface over time."
Howard Weil upgraded shares of Bonanza Creek Energy Inc (BCEI) from an outperform rating to a focus stock rating. Howard Weil now has a $40.00 price target on the stock, up previously from $28.00.
Morgan Stanley upgraded shares of BEAM Inc (BEAM) to an overweight rating. They wrote, "We are upgrading BEAM to Overweight, as we believe recent stock underperformance on near-term concerns offers investors a long-term buying opportunity into a company with attractive growth and strategic potential. . Our upgrade to OW is not predicated on Q3 being a positive catalyst (we are in line with consensus). Instead, our point is that a short-term pullback in Beam's stock offers a long-term buying opportunity."
SunTrust downgraded shares of BancorpSouth, Inc. (BXS) from a buy rating to a neutral rating.
Keefe, Bruyette & Woods initiated coverage on shares of CAI International Inc (CAP). They issued an outperform rating on the stock.
Caris & Co. upgraded shares of Carmike Cinemas, Inc. (CKEC) from an above average rating to an average rating.
Deutsche Bank downgraded shares of Cliffs Natural Resources Inc (CLF) from a buy rating to a hold rating.
Rochdale Securities upgraded shares of Capital One (COF) from a hold rating to a buy rating.
Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at http://bit.ly/equitybriefdaily
Content and Media Contact: [email protected]
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Equity Brief via Thomson Reuters ONE
HUG#1651131
