Equity Brief: Ratings Changes for December 5th: AAPL, ADTN, AGU, AIG, AKZOY, ALTR, AMT, AMTD

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:

Sterne Agee reiterated its buy rating on shares of Apple, Inc (AAPL). They have a $840.00 price target on the stock.

Citigroup downgraded shares of ADTRAN, Inc. (ADTN) from a neutral rating to a sell rating. Their analysts now have a $12.50 price target on the stock, down previously from $17.00. They wrote, "Although, in our view, ADTN has been among best managed franchises in telecom equipment, we believe it faces challenges in its mainstay wireline access franchise and downgrade shares to Sell with a $12.50 target price based on our below-consensus EPS and a 14x target P/E. Tepid demand in wireline access drives a more conservative outlook and our expectation of P/E compression from current 25.4x P/E, which we see as an unsustainable 100% premium vs. S&P 500."

Zacks downgraded shares of Agrium (AGU) from an outperform rating to a neutral rating. Their analysts now have a $105.00 price target on the stock.

Argus upgraded shares of American International Group, Inc. (AIG) from a hold rating to a buy rating. Argus now has a $40.00 price target on the stock.

HSBC downgraded shares of Akzo Nobel (AKZOY) from a neutral rating to an underweight rating.

ISI Group downgraded shares of Altera (ALTR) from a buy rating to a neutral rating.

RBC Capital reiterated its outperform rating on shares of American Tower Corporation (AMT). They have a $91.00 price target on the stock, up previously from $77.00.

Zacks reiterated its neutral rating on shares of TD Ameritrade (AMTD). They have a $17.00 price target on the stock. Zacks' analyst wrote, "We are initiating our coverage on TD Ameritrade Holding Corporation with a long-term Neutral recommendation. The company's fiscal fourth-quarter 2012 earnings came in ahead of the Zacks Consensus Estimate, primarily aided by a decline in operating expenses. Further, an increase in total client assets was a positive. Yet, a dip in average client trades per day and overall decline in revenue were the downsides. Nevertheless, the company is focused on improving its trading and investing business through product innovativation, advanced customer service as well as expense discipline. However, a decline in the company's trading volumes in a stresses macroeconomic environment is a headwind. Further, a low interest rate and stringent regulatory environments are the causes of concern."

Evercore Partners reiterated its overweight rating on shares of Amazon.com, Inc. (AMZN). They have a $290.00 price target on the stock, up previously from $270.00.

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