Citigroup Inc. (NYSE: C) was downgraded to Hold from Buy at Societe Generale. Argus reiterated its Sell rating. This was after two downgrades on Thursday as well. We also pointed out how Citi’s CEO made a huge error by hardly communicating to the market.
Lululemon Athletica Inc. (NASDAQ: LULU) saw its estimates for 2015 lowered at Argus, with a Hold rating maintained. Canaccord Genuity reiterated its Buy rating and said rumors of its demise have been greatly exaggerated. Sterne Agee maintained its Underperform rating on Lululemon and lowered its earnings expectations.
Microsoft Corp. (NASDAQ: MSFT) was reiterated as Outperform and the price target was raised to $44 from $37 at RBC Capital Markets.
Oracle Corp. (NYSE: ORCL) was started with a Buy rating and a $50 price target at Cantor Fitzgerald.
SolarCity Corp. (NASDAQ: SCTY) was raised to Outperform from Market Perform at Raymond James, and the firm assigned a $75 price target (versus a $60.74 close).
Other Key Analyst Calls
Agnico Eagle Mines Ltd. (NYSE: AEM) was raised to Buy from Hold at Canaccord Genuity.
Alcoa Inc. (NYSE: AA) was raised to Neutral from Underperform at Macquarie.
Ciena Corp. (NASDAQ: CIEN) was downgraded to Sector Perform from Outperform at RBC Capital Markets.
Kinross Gold Corp. (NYSE: KGC) was raised to Neutral from Sell at Goldman Sachs.
PennyMac Financial Services Inc. (NYSE: PFSI) was raised to Outperform by Wells Fargo, and it was said that the sell-off was now overdone.
PG&E Corp. (NYSE: PCG) was downgraded to Neutral from Buy and the price target was cut to $46 from $52 at Citigroup.
Pinnacle West Capital Corp. (NYSE: PNW) was downgraded to Buy from Neutral at Bank of America Merrill Lynch, due to its opinion of a less constructive regulatory climate in Arizona.
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