Equity Brief: Ratings Changes for November 27th: PBCT, PFE, PLL, PSB, PVH, RBC, RBS, RRD

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

Zacks reiterated its neutral rating on shares of People's United Financial, Inc. PBCT. They have a $12.00 price target on the stock. Zacks' analyst wrote, "People's United's third-quarter 2012 operating earnings per share were in line with the Zacks Consensus Estimate. Elevated non-interest expenses and higher provision for loan losses were the dampeners for the quarter. Additionally, reduced net interest margin due to persisting low interest environment was a headwind. Yet, higher revenue aided by improved non-interest income acted as a positive. Overall, People's United is trying to overcome the slow economic recovery through opportunistic acquisitions. Going forward, growth in deposits is expected to boost the company's financial results. In addition, capital deployment activity will definitely boost investors' confidence. Yet, the recent regulatory issues, global concerns and continued market volatility remain the major areas of concern."

MKM Partners downgraded shares of Pfizer Inc PFE from a buy rating to a neutral rating.

BB&T downgraded shares of Pall Co. PLL from a buy rating to a hold rating.

Zacks reiterated its neutral rating on shares of PS Business Parks PSB. They have a $70.00 price target on the stock. Zacks' analyst wrote, "PS Business Parks reported modest third quarter 2012 results with healthy year-over-year increase in revenue and recurring FFO per share. PS Business Parks owns and operates commercial real estate properties in diversified markets, which can be easily configured to suit a variety of uses to minimize downside risk and generate a steady source of revenue. The company also has a strong balance sheet with adequate liquidity and minimal debt maturities. However, if job cuts recur, operations in the company's office portfolio are likely to suffer, thereby undermining its long-term growth potential. We maintain our long-term Neutral rating for PS Business Parks as we anticipate it to perform in line with the broader market. "

Deutsche Bank raised its price target on shares of Phillips-Van Heusen PVH from $100.00 to $125.00. They have a buy rating on the stock.

RBC Capital upgraded shares of Regal Beloit (RBC) from a market perform rating to an outperform rating.

UBS AG upgraded shares of Royal Bank Scotland (RBS) from a neutral rating to a buy rating.

Benchmark Co. raised its price target on shares of R.R. Donnelley & Sons Company (RRD) from $12.00 to $15.00. They have a buy rating on the stock.

Goldman Sachs initiated coverage on shares of Steven Madden, Ltd. (SHOO). They issued a sell rating on the stock and set a $35.00 price target.

Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at http://bit.ly/equitybriefdaily

Content and Media Contact: newseditor@equitybrief.net