Equity Brief: Upgrades and Downgrades for August 31st: BDC, BRLI, CM, CS, FB, FMS, GLW, GRMN, LAYN, LSTR

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 Brief:

Stifel Nicolaus  downgraded shares of Belden BDC from a buy rating to a hold rating.

Benchmark Co.  raised its price target on shares of Bio-Reference Laboratories, Inc. BRLI from $27.00 to $30.00. They have a buy rating on the stock.

BMO Capital Markets  upgraded shares of CIBC CM from a market perform rating to an outperform rating. BMO Capital Markets now has a $84.00 price target on the stock.

TD Securities  downgraded shares of CIBC CM from a buy rating to a hold rating.

ING Group  upgraded shares of Credit Suisse CS from a sell rating to a hold rating.

Bank of America  lowered its price target on shares of Facebook FB from $35.00 to $23.00. They have a neutral rating on the stock.

Societe Generale  initiated coverage on shares of Fresenius Medical FMS. They issued a buy rating on the stock.

HSBC  initiated coverage on shares of Fresenius Medical FMS. They issued an overweight rating on the stock.

Oppenheimer  upgraded shares of Corning Inc. GLW from a perform rating to an outperform rating. Oppenheimer now has a $16.00 price target on the stock.

Wells Fargo & Co.  initiated coverage on shares of Garmin Ltd. GRMN. They issued an outperform rating on the stock.

Janney Montgomery Scott  downgraded shares of Layne Christensen LAYN from a buy rating to a neutral rating.

Wunderlich  lowered its price target on shares of Landstar System, Inc. LSTR from $56.00 to $54.00. They have a hold rating on the stock.

Oppenheimer  reiterated its outperform rating on shares of Landstar System, Inc. LSTR. They have a $60.00 price target on the stock.

Bank of America  initiated coverage on shares of Merrimack Pharmaceuticals Inc MACK. They issued a buy rating on the stock and set a $13.00 price target.

Needham & Company  raised its price target on shares of OmniVision Technologies, Inc. OVTI from $18.00 to $21.00. They have a buy rating on the stock.

Credit Suisse  upgraded shares of RBC Capital RY from a neutral rating to an outperform rating.

Barclays Capital  downgraded shares of Spectra Energy Corp. SE from an overweight rating to an equal weight rating. Their analysts now have a $30.00 price target on the stock.

Bank of America  lowered its price target on shares of Smithfield Foods, Inc. SFD from $19.00 to $17.00. They have an underperform rating on the stock.

Credit Suisse  raised its price target on shares of Splunk Inc SPLK from $40.00 to $42.50. They have an outperform rating on the stock.

Dahlman Rose  upgraded shares of Thompson Creek Metals Co Inc TC from a hold rating to a buy rating. Dahlman Rose now has a $4.00 price target on the stock.

Credit Suisse  downgraded shares of Toronto-Dominion Bank TD from an outperform rating to a neutral rating.

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