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Analyst upgrades: - Jefferies upgraded Aruba Networks (NASDAQ: ARUN) to Buy from Hold following the company's Q3 results to reflect improved visibility. The firm raised its target price to $6.50 from $3.
- Citigroup upgraded Mosaic (NYSE: MOS) and Potash (NYSE: POT) to Buy from Hold and Agrium (NYSE: AGU) to Hold from Sell as it believes stronger grain fundamentals more than offset China contract risk. The firm raised its target on Mosaic to $72 from $48, on Potash to $145 from $83 and on Agrium to $55 from $36.
- Fulton Financial (NASDAQ: FULT) Was upgraded to Market Perform from Underperform at Keefe Bruyette.
- Rio Tinto (NYSE: RTP) was raised to Neutral from Sell at Goldman.
- Noble Corp. (NYSE: NE) was upgraded at Deutsche Bank to Buy from Hold.
Analyst downgrades:
Analyst initiations:
- UBS downgraded Eagle Bulk Shipping (NASDAQ: EGLE) to Neutral from Buy based on valuation and the belief the dry bulk shipping market is in a protracted downcycle. The firm lowered its target to $7 from $5.
- Deutsche Bank downgraded Diamond Offshore (NYSE: DO) to Hold from Buy as it prefers more oil levered names. The firm raised its target price to $101 from $81.
- Citigroup downgraded Monsanto (NYSE: MON) to Hold from Buy to reflect glyphosate supply concerns and valuation.
- JP Morgan downgraded Red Robin Gourmet (NASDAQ: RRGB) to Neutral from Overweight.
- SunTrust (NYSE: STI) was downgraded to Underweight from Equal Weight at Morgan Stanley.
- CommVault (NASDAQ: CVLT) was cut to Hold from Buy at KeyBanc.
Analyst initiations:
- Jefferies believes Swiss Re's (OTC: SWCEY) high capital leverage to credit markets makes it a good stock for exposure to narrowing spreads via the equity space. The firm started shares with a Buy rating and $43 target.
- Merriman initiated Teradata (NYSE: TDC) with a Neutral rating. The firm prefers waiting for a better entry point into Teradata shares due to valuation, increasing competition, and a lack of visibility.
- Soleil views AmerisourceBergen (NYSE: ABC) as a "low risk way to play the rise of generic drugs. Shares were assumed with a Buy rating and $51 target.
- Boston Scientific (NYSE: BSX) was initiated at Bernstein with an Outperform rating and $11 target.
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