Research Calls

Published on Thursday, 02 August 2012 07:47 Written by Christopher Lynn

New York, August 2^nd (TradersHuddle.com) – Following are some of the upgrades and downgrades before the market open.

Abercrombie & Fitch (NYSE: ANF) was downgraded to a Neutral from Outperform at Robert W. Baird. The firm slashed its target price to $32 from $55. A&F was also downgraded to a Neutral from Overweight at Piper Jaffray.

ArcelorMittal (NYSE: MT) was downgraded to a Neutral from Buy at Bank of America Merrill.

Devon Energy (NYSE: DVN) was downgraded to a Neutral from Outperform at Macquarie.

DryShips (NASDAQ: DRYS) was downgraded to a Hold from Buy at Deutsche Bank.

First Solar (NASDAQ: FSLR) was upgraded to Outperform from Neutral at Robert W. Baird. The firm bumped its target price to $30 from $25.

Fresenius Medical (NYSE: FMS) was downgraded to a Neutral at HSBC Securities.

Garmin (NASDAQ: GRMN) was upgraded to Outperform from Neutral at Wedbush.

Halozyme Therapeutics (NASDAQ: HALO) was downgraded to Underperform from Hold at Jefferies.

Hill-Rom (NYSE: HRC) was downgraded to a Neutral from Overweight at Piper Jaffray.

MGM Resorts (NYSE: MGM) was downgraded to a Neutral from Buy at Bank of America Merrill.

Owens Corning (NYSE: OC) was downgraded to Sector Perform from Outperform at RBC Capital.

PacWest Bancorp (NASDAQ: PACW) was upgraded to a Buy from Neutral at Sterne Agee. The firm set its target price at $28. 

Red Lion Hotels (NYSE: RLH) was upgraded to a Neutral from Underperform at Robert W. Baird. The firm set its target price at $7.

RenaissanceRe (NYSE: RE) was upgraded to a Hold from Sell at Deutsche Bank.

Resolute Forest Products (NYSE: RFP) was upgraded to a Hold from Reduce at TD Securities.

Veolia Environnement (NYSE: VE) was downgraded to a Neutral from Buy at Bank of America Merrill.