Market Overview

Equity Briefing: Upgrades and Downgrades for August 13th: PRSC, PWE, RBN, RKT, ROST, S, SCBT, SCHN, SCLN


A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/arndailyr) and Equity Briefing:

Noble Financial  downgraded shares of The Providence Service Co. (NASDAQ: PRSC) from a buy rating to a hold rating.

Credit Suisse  downgraded shares of Penn West Energy Trust (NYSE: PWE) from an outperform rating to a neutral rating.

Robert W. Baird  downgraded shares of Robbins & Myers (NYSE: RBN) from an outperform rating to a neutral rating. Their analysts now have a $60.00 price target on the stock.

Credit Suisse  upgraded shares of Rock-Tenn Company (NYSE: RKT) from a neutral rating to an outperform rating.

Piper Jaffray  upgraded shares of Ross Stores, Inc. (NASDAQ: ROST) from a neutral rating to an overweight rating.

Bank of America  upgraded shares of Sprint Nextel (NYSE: S) from a neutral rating to a buy rating. Bank of America now has a $6.00 price target on the stock, up previously from $4.50.

Wunderlich  raised its price target on shares of SCBT Financial Co. (NASDAQ: SCBT) from $40.00 to $48.00. They have a buy rating on the stock.

Bank of America  downgraded shares of Schnitzer Steel (NASDAQ: SCHN) from a neutral rating to an underperform rating. Their analysts now have a $28.00 price target on the stock, down previously from $31.00.

Cowen  downgraded shares of SciClone Pharmaceuti (NASDAQ: SCLN) from an outperform rating to a neutral rating.

Morgan Stanley  downgraded shares of Sagent Pharmaceuticals Inc (NASDAQ: SGNT) from an overweight rating to an equal weight rating.

Deutsche Bank  initiated coverage on shares of Silicon Motion Technology Corp. (NASDAQ: SIMO). They issued a buy rating on the stock.

Goldman Sachs  upgraded shares of The J.M. Smucker Company (NYSE: SJM) from a neutral rating to a buy rating.

Canaccord Genuity  initiated coverage on shares of Sodastream International (NASDAQ: SODA). They issued a hold rating on the stock and set a $45.00 price target. They noted that the move was a valuation call.

Jefferies Group  upgraded shares of Spreadtrum Comms (NASDAQ: SPRD) from an underperform rating to a hold rating.

B. Riley  upgraded shares of Stoneridge, Inc. (NYSE: SRI) from a neutral rating to a buy rating.

Desjardins  upgraded shares of Sunopta Inc. (NASDAQ: STKL) from a hold rating to a buy rating.

Ascendiant Capital Markets  lowered its price target on shares of Firsthand Technology Value Fund Inc (NASDAQ: SVVC) from $24.00 to $21.00. They have a buy rating on the stock.

JPMorgan Chase  downgraded shares of Syntel, Inc. (NASDAQ: SYNT) from an overweight rating to a neutral rating.

Raymond James  upgraded shares of Solazyme Inc (NASDAQ: SZYM) from a market perform rating to an outperform rating.

Macquarie  downgraded shares of Thompson Creek Metals Co Inc (NYSE: TC) from a neutral rating to an underperform rating.

Caris & Co.  downgraded shares of Time Warner Inc. (NYSE: TWX) from an above average rating to an average rating. Their analysts now have a $42.00 price target on the stock.

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Source: Equity Briefing via Thomson Reuters ONE

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