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Notable Analyst Rating Changes 05/17: (RKUS) (GM) (SPF) Upgraded; (ARUN) (DIS) (DE) Downgraded

May 17, 2013 10:53 AM EDT Send to a Friend
UPGRADES
Goldman Sachs raises Ruckus Wireless (NYSE: RKUS) from Neutral to Buy with a price target of $19. Click Here for more color.

CLSA raises General Motors (NYSE: GM) from Underperform to Buy, moving its price target from $31 up to $40.

CRT Capital lifts Standard Pacific (NYSE: SPF) from Fairly Valued to Buy with a price target of $11.

Avondale Partners upgrades Southwest (NYSE: LUV) from Market Perform to Market Outperform.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES
Aruba Networks (NASDAQ: ARUN) received multiple downgrades following Q3 results and guidance:
  • Wells Fargo from Outperform to Market Perform, moving its price target from $20-22 to $13-15. Click Here for more color;

  • Oppenheimer from Outperform to Perform;

  • Stephens from Overweight to Equal Weight, moving its price target from $25 down to $17;

  • Janney Montgomery Scott from Buy to Neutral, moving its target from $25 to $16;

  • JPMorgan from Neutral to Underweight, while adjusting its price target from $17.50 down to $13;

  • Morgan Stanley from Overweight to Equalweight;

  • Wedbush from Outperform to Neutral, lowering its target from $20 down to $15;

  • Needham & Company from Buy to Hold. Click Here for more color.

  • FBN Securities from Outperform to Sector Perform; and

  • Stifel Nicolaus from Buy to Hold.

Atlantic Equities lowers Walt Disney (NYSE: DIS) from Overweight to Neutral, adjusting its price target from $65 to $74.

Goldman Sachs cuts Deere (NYSE: DE) from Neutral to Sell and cut its price target from $98 to $85. Click Here for more color.

RBC Capital trims MeadWestvaco (NYSE: MWV) from Sector Perform to Underperform, lowering its price target from $35 to $30.

For daily real-time Downgrades go to http://www.streetinsider.com/downgrades

NEW COVERAGE
Topeka Capital starts Laredo Petroleum (NYSE: LPI) with a Buy rating and a price target of $23. Click Here for more color.

MKM Partners assumes Pandora (NYSE: P) at Sell and $10 target.

Barclays begins AT&T (NYSE: T) with an Equalweight and $39 target.

Barclays initiates Verizon Communications (NYSE: VZ) with an Overweight and price target of $59.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage

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Stifel Nicolaus, JPMorgan, Morgan Stanley, Needham & Company, RBC Capital, Avondale Partners, Janney Montgomery Scott, Barclays, Notable Analyst Rating Changes, Wells Fargo

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