Alcoa Inc. (NYSE: AA) was downgraded to Sell from Hold and its price target was cut to $5.50 from $9.00 (versus a $8.17 close) at Deutsche Bank.
Baidu Inc. (NASDAQ: BIDU) was reiterated as Buy and the price target was raised to $177 from $158 (versus a $158.64 close) based on the Qunar spin-off adding incremental value, according to Bank of America Merrill Lynch.
Barrick Gold Corp. (NYSE: ABX) was raised to Buy from Hold at Deutsche Bank. We would like to remind readers how well Deutsche Bank caught the last upgrade wave in gold.
Baxter International Inc. (NYSE: BAX) was downgraded to Neutral from Outperform at Credit Suisse based on earnings uncertainty around its competitive long-acting recombinant franchise.
Biogen Idec Inc. (NASDAQ: BIIB) was reiterated as Outperform, but the target price was raised to $290 from $255 (versus a $244.92 close) based mostly on higher Tecfidera and Hemophilia franchise peak sales estimates, at Credit Suisse.
Corning Inc. (NYSE: GLW) was reiterated as Buy with a $20 price target (versus a $14.74 close), based on it being below pre-recession levels and that it “appears undervalued based on the company’s long-term growth prospects,” according to Argus.
General Electric Co. (NYSE: GE) was reiterated as Buy with a $26 price target (versus a $24.17 close), based on likely strategic alternatives data in the coming weeks on parts of GE Capital’s Consumer business, according to Bank of America Merrill Lynch.
Gulfport Energy Corp (NASDAQ: GPOR) was reiterated as Buy and the price target was raised to $86 from $80 (versus a $65.73 close), based on the prospectivity of the Utica Shale’s dry gas potential, by Sterne Agee.
ManpowerGroup Inc. (NYSE: MAN) was raised to Buy from Neutral and the price target was raised to $80 from $71 (versus a $73.11 close), based on encouraging signs on Europe’s macro front and also on impressive cost-cutting efforts, at Bank of America Merrill Lynch.
Tesla Motors Inc. (NASDAQ: TSLA) was downgraded to Neutral from Outperform, based on excessive valuation, at R.W. Baird.
Unilever PLC (NYSE: UL) was downgraded to Neutral from Buy at UBS.
Valero Energy Corp. (NYSE: VLO) was raised to Buy from Neutral at Citigroup.
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