Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Equal Weight from Overweight at Barclays, and the firm cut the price target to $23 from $25, versus a $21.51 closing price.
Hewlett-Packard Co. (NYSE: HPQ) was raised to Overweight from Equal Weight by Barclays, and the price target was put at $38 (versus a $29.48 close).
Michael Kors Holdings Ltd. (NYSE: KORS) was started as Underweight at Barclays, and the price target was put at $85, versus a $98.56 close. This is the equivalent of a Sell rating, and the consensus price target is closer to $105. Barclays now matches the street’s lowest analyst price target.
Oracle Corp. (NYSE: ORCL) was maintained as Outperform with a $40 price target (versus a $38.22 close) at Credit Suisse, ahead of its earnings report. Sterne Agee only maintained a Neutral rating.
Shutterfly Inc. (NASDAQ: SFLY) was downgraded to Underperform from Outperform and the target price was slashed to $39 from $57 (versus a $50.43 close) at Cowen and Co. This is the equivalent of a Sell rating. The consensus price target is closer to $57, and the prior lowest analyst price target was $47.
Other Key Analyst Calls
Alphatec Holdings Inc. (NASDAQ: ATEC) was reinstated as Buy with a $3 price target (versus a $1.60 close) at Canaccord Genuity, based on its legal settlement no longer being a distraction and putting the 2014 thesis intact.
Chicago Bridge & Iron Co. N.V. (NYSE: CBI) was started as Outperform at Cowen and Co.
Coach Inc. (NYSE: COH) was started as Equal Weight at Barclays.
L-3 Communications Holdings Inc. (NYSE: LLL) was raised to Sector Perform from Underperform at RBC Capital Markets.
Marathon Oil Corp. (NYSE: MRO) was reiterated as Buy and with a $42 price target (versus a $33.18 close) at Argus.
Nabors Industries Ltd. (NYSE: NBR) was raised to Neutral from Underperform and the price target was raised to $22 from $12 (versus a $22.56 close) at Credit Suisse.
Pan American Silver Corp. (NASDAQ: PAAS) was raised to Sector Perform from Underperform at CIBC.
Ralph Lauren Corp. (NYSE: RL) was started as Overweight by Barclays.
Sequential Brands Group Inc. (NASDAQ: SQBG) was started as Overweight by Piper Jaffray.
21Vianet Group Inc. (NASDAQ: VNET) was raised to Outperform from Neutral with a price target of $36 at Credit Suisse.
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