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:
Barclays Capital lowered its price target on shares of Joy Global Inc. (JOY) from $81.00 to $77.00. They have an overweight rating on the stock.
Goldman Sachs initiated coverage on shares of Kimberly Clark Corp (KMB). They issued a neutral rating on the stock and set a $93.00 price target.
Bank of America initiated coverage on shares of Kennametal Inc. (KMT). They issued a buy rating on the stock and set a $50.00 price target.
SunTrust initiated coverage on shares of Kraton Performance Polymers Inc (KRA). They issued a neutral rating on the stock and set a $23.00 price target.
Oppenheimer downgraded shares of Leap Wireless (LEAP) from an outperform rating to a market perform rating.
Sidoti upgraded shares of Lennox International Inc. (LII) from a neutral rating to a buy rating.
UBS AG raised its price target on shares of Lennox International Inc. (LII) from $51.00 to $54.00. They have a neutral rating on the stock.
Zacks upgraded shares of Lowe's (LOW) from an underperform rating to a neutral rating. Zacks now has a $36.00 price target on the stock. Zacks' analyst wrote, "We upgraded our recommendation on Lowe's to Neutral following impressive third-quarter 2012 results. The quarterly earnings of $0.40 per share beat the Zacks Consensus Estimate of $0.35 and rose 11.1% from the year-ago quarter. The company witnessed an increase of 1.9% in revenue to $12,073 million following a decline of 2% in the second quarter and also outpaced the Zacks Consensus Estimate of $11,923 million. Management continues to expect fiscal 2012 earnings of $1.64 per share and reiterated that total sales for fiscal 2012 are expected to remain even with the prior year. Lowe's is now concentrating on store refurbishing, merchandising and operational efficiencies. However, we prefer to be on the sidelines as we believe that spending on big remodeling projects will likely remain under pressure until the housing market stabilizes, inventory levels normalize and consumer-spending rebounds."
SunTrust initiated coverage on shares of LyondellBasell (LYB). They issued a neutral rating on the stock and set a $52.00 price target.
Sidoti upgraded shares of Metropolitan Health Networks, Inc. (MDF) from a neutral rating to a buy rating.
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