STOCK UPGRADES AND DOWNGRADES

Analysts' Actions: AA, AAPL, CVX, IBM, JNPR

AA data by YCharts

NEW YORK (TheStreet) -- CHANGE IN RATINGS

Alcoa (AA) downgraded at BMO to Underperform, BMO Capital said. $8 price target. Company will likely continue to face upstream margin pressure.

Apple (AAPL) rated new Buy at UBS. $740 price target. Growth driven by iPhone and emerging markets.

Amerigroup (AGP) downgraded at Jefferies to Hold from Buy, Jefferies said. $92 price target. WellPoint buyout.

Allegiant Travel (ALGT) upgraded at Deutsche from Hold to Buy, Deutsche Bank said. $90 price target. Industry sales are trending higher and airlines are paying lower fuel costs.

Amazon.com (AMZN) rated new Market Perform at BMO. Valuation call, based on a $260 price target.

Bruker (BRKR) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $16 price target. Industry has poor near-term risk/reward.

Comerica (CMA) rated new Neutral at Guggenheim. Valuation call, based on a $35 price target.

EMC (EMC) rated new Buy at UBS. $30 price target. Margin expansion likely on mix shift to software, new segments.

HMS Holdings (HMSY) downgraded at Jefferies to Hold from Buy, Jefferies said. $32 price target. Valuation reflects improved growth visibility.

IBM (IBM) rated new Neutral at UBS. $205 price target. Fairly priced on EV/FCF and DCF.

Juniper Networks (JNPR) rated new Market Perform at JMP Securities. Company is facing increased competition.

Life Technologies (LIFE) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $46 price target. Company is facing macro headwinds to growth.

Life Time Fitness (LTM) rated new Hold at Stifel. Valuation call.

Pinnacle West Capital (PNW) downgraded at Citigroup to Neutral from Buy, Citigroup said. $52 price target. Valuation call.

Sigma-Aldrich (SIAL) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $75 price target. Company is facing currency headwinds.

ViroPharma (VPHM) rated new Market Perform at Wells. Manufacturing issues remain a near-term risk.

Wendy's (WEN) upgraded at Wedbush from Neutral to Outperform, Wedbush said. $5.50 price target. Fundamentals are improving and the company has potential catalysts.

Waste Management (WM) downgraded at Morgan Stanley from Equal-weight to Underweight, Morgan Stanley said. $30 price target. Stock has been strong, even though fundamentals remain poor.

STOCK COMMENTS / EPS CHANGES

Franklin Resources (BEN) numbers raised at BMO. Shares of BEN now seen reaching $125, according to BMO Capital Markets. Estimates also increased, given better market performance. Market Perform rating.Cummins (CMI) estimates, target reduced at Sterne Agee. Shares of CMI now seen reaching $124, according to Sterne Agee. Estimates also cut, given the company's new guidance. Buy rating.
Chevron (CVX) numbers cut at Citigroup. Shares of CVX now seen reaching $120, Citigroup said. Estimates also lowered to reflect lower oil. Buy rating.
Consolidated Edison (ED) target raised at Jefferies to $64, Jefferies said. 2014 EPS of $3.90. Hold rating.
Fiserv (FISV) target raised at Oppenheimer to $80, Oppenheimer said. Not seeing meaningful change in bank spending. Outperform rating.
Generac (GNRC) target lowered at Oppenheimer to $27, Oppenheimer said. New awareness opportunity. Outperform rating.
PACCAR (PCAR) numbers lowered at Jefferies. Shares of PCAR now seen reaching $48, Jefferies said. Estimates also lowered on Fx and truck forecasts. Buy rating.
Shaw (SHAW) estimates, target reduced at JP Morgan. SHAW estimates were cut through 2013, JP Morgan said. E&C sale will cut into earnings. Neutral rating and new $31.50 price target.

TheStreet Staff

07/11/12 - 09:38 AM EDT