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:
UBS AG initiated coverage on shares of Rigel Pharmaceuticals, Inc. (RIGL). They issued a neutral rating on the stock and set a $9.00 price target.
Goldman Sachs upgraded shares of Research In Motion (RIMM) from a neutral rating to a buy rating. Goldman Sachs now has a $16.00 price target on the stock, up previously from $9.00.
Morgan Stanley initiated coverage on shares of RPM International Inc. (RPM). They issued an overweight rating on the stock and set a $134.00 price target.
Zacks upgraded shares of RadioShack (RSH) from an underperform rating to a neutral rating. Zacks now has a $2.25 price target on the stock. Zacks' analyst wrote, "We are upgrading our recommendation on RadioShack to Neutral backed by its extremely low level of current valuation, which plunged more than 82% in the last year. In our view, the company is currently fairly valued and provides limited chance for further downslide of its stock price. Meanwhile, the nightmare of Radioshack persists as it continues with its disappointing performance. Third-quarter 2012 financial results were well below the Zacks Consensus Estimates. Adverse product-mix toward low-margin devices and a volatile macro-economic scenario in the U.S. are taking a toll on the company's financials. RadioShack's core consumer electronics retail business is on a secular downtrend. Consumers increasingly prefer online purchasing to visiting retail stores. Loss of foot traffic has severe negative impact on RadioShack's business. Earlier, management suspended dividend payment in order to reduce the company's debt burden. "
Wells Fargo & Co. initiated coverage on shares of Seagate (STX). They issued a market perform rating on the stock.
Northcoast Research downgraded shares of The Fresh Market Inc (TFM) from a neutral rating to a sell rating.
Jefferies Group downgraded shares of Timken (TKR) from a buy rating to a hold rating. Their analysts now have a $45.00 price target on the stock.
SunTrust initiated coverage on shares of Texas Instruments (TXN). They issued a reduce rating on the stock and set a $26.00 price target.
Northland Securities initiated coverage on shares of The Ultimate Software Group, Inc. (ULTI). They issued an outperform rating on the stock and set a $110.00 price target.
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