Analysts' Actions: CHK, FL, NKE, RVBD
Altera(ALTR) was downgraded at Citigroup to Neutral from Buy with a $38.50 price target. Reporting/guiding below expectations, Citigroup said.
Acuity Brands (AYI) rated new Hold at Stifel Nicolaus. Valuation call.
Bank of New York Mellon (BK) was upgraded to Buy at TheStreet Ratings.
Brown & Brown (BRO) was upgraded from Neutral to Overweight at JP Morgan. Organic growth appears to have reached an inflection point, JP Morgan said. $30 price target.
Chesapeake Energy (CHK) was downgraded from Outperform to Market Perform at Wells Fargo. Company continues to struggle with lower natural gas prices, Wells Fargo said.
First Horizon (FHN) was downgraded from Outperform to Market Perform at Wells Fargo. Estimates also cut, given flat loan growth and margin compression.
Foot Locker (FL) was initiated with a Hold rating at Benchmark. Valuation call, based on a $35 price target.
Kinder Morgan (KMI) Coverage was initiated with a Sell rating at TheStreet Ratings.
Marsh & McLennan (MMC) was downgraded from Neutral to Underweight, JP Morgan said. Company lacks near-term catalysts. $32 price target.
Navigators Group (NAVG) was downgraded to Hold at TheStreet Ratings.
New Jersey Resources (NJR) was upgraded from Hold to Buy at Brean Murray with a $49 price target. Recent pullback has created a buying opportunity, Brean Murray said.
Nike(NKE) coverage was started with a Buy rating at Benchmark, with a $128 price target. Company is leveraged to a busy sporting calendar.
ONEOK(OKE) was upgraded to Buy from Neutral at UBS with a $94 price target. Dominant midstream provider in the Midcontinent and Rockies regions.
Riverbed(RVBD) downgraded was downgraded from Buy to Hold at Cantor Fitzgerald with a $27 price target. Company faces transitions in multiple areas.
Riverbed(RVBD) downgraded at JP Morgan to Neutral. Company faces channel execution issues.
Riverbed(RVBD) was downgraded from Outperform to Neutral at Wedbush with a $23 price target. Company faces execution challenges, Wedbush said.
Riverbed(RVBD) was downgraded to Perform from Outperform at Oppenheimer. Maneuvering through much more than just a product cycle, Oppenheimer said.
Boston Beer (SAM) was initiated with a Neutral rating at UBS, with a $103 price target. Limited upside at current multiple, UBS said.
Sandisk(SNDK) was downgraded from Overweight to Neutral at Piper Jaffray with a $35 price target. Estimates also slashed, given pricing headwinds.
Sandisk(SNKD) was downgraded from Buy to Hold at Deutsche Bank with a $35 price target. Company appears to be focused on the wrong customers in the wrong markets.
Transdigm(TDG) was upgraded from Neutral to Buy at Goldman Sachs with a $144 price target. Company has the best margins in the industry.
STOCK COMMENTS / EPS CHANGES
Alliance Data (ADS) numbers raised at Credit Suisse. Shares of ADS now seen reaching $150, according to Credit Suisse. Estimates also increased, given the company's new guidance. Outperform rating.