Analyst calls: IBM downgraded to 'neutral'
Citigroup is upgraded to 'outperform,' and Apollo Group is downgraded to 'neutral.'
Wednesday's noteworthy upgrades include:
- Equity Residential (EQR) upgraded to Outperform from Market Perform at Raymond James
- Murphy Oil (MUR) upgraded to Buy from Hold at Brean Capital
- Citigroup (C) upgraded to Outperform from Underperform at CLSA
- Sprint (S) upgraded to Buy from Hold at Argus
- American Tower (AMT) downgraded to Equal Weight from Overweight at Barclays
- Apollo Group (APOL) downgraded to Neutral from Buy at BofA/Merrill
- Cisco (CSCO) downgraded to Hold from Buy at Cantor
- IBM (IBM) downgraded to Neutral from Buy at Janney Capita
- Murphy Oil (MUR) downgraded to Equal Weight from Overweight at Barclays
- Texas Instruments (TXN) downgraded to Underperform from Neutral at Longbow
- Toll Brothers (TOL) downgraded to Outperform from Strong Buy at Raymond James
- PNC Financial (PNC) downgraded to Hold from Buy at Stifel Nicolaus
- Simon Property (SPG) downgraded to In-Line from Outperform at Imperial Capital
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The offering could become the second-biggest this year if underwriters exercise an option to buy more shares.
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