Analyst calls: Carnival downgraded to 'neutral'
Goldman downgrades Philip Morris, while CIBC upgrades Potash Corp.
Tuesday's noteworthy upgrades include:
- Charles Schwab (SCHW) upgraded to Buy from Neutral at Goldman
- LyondellBasell (LYB) upgraded to Buy from Neutral at Goldman
- Medtronic (MDT) upgraded to Outperform from Market Perform at Wells Fargo
- Applied Materials (AMAT) upgraded to Outperform from Sector Perform at RBC Capital
- Potash (POT) upgraded to Sector Outperformer from Sector Performer at CIBC
- Panera Bread (PNRA) upgraded to Overweight from Equal Weight at Morgan Stanley
- Hess Corp. (HES) upgraded to Outperform from Market Perform at Howard Weil
- Intel (INTC) downgraded to Neutral from Overweight at JP Morgan
- AK Steel (AKS) downgraded to Hold from Buy at Deutsche Bank
- UPS (UPS) downgraded to Hold from Buy at Jefferies
- FedEx (FDX) downgraded to Hold from Buy at Jefferies
- Canadian National (CNI) downgraded to Underperform from Hold at Jefferies
- Dreamworks (DWA) downgraded to Sell from Neutral at Goldman
- IntercontinentalExchange (ICE) downgraded to Neutral from Buy at Goldman
- Philip Morris (PM) downgraded to Neutral from Buy at Goldman
- Regeneron (REGN) downgraded to Neutral from Buy at Roth Capital
- Fifth Third Bancorp (FITB) downgraded to Neutral from Outperform at RW Baird
- JetBlue (JBLU) downgraded to Sell from Hold at Dahlman Rose
- Carnival (CCL) downgraded to Neutral from Overweight at JP Morgan
- Royal Dutch Shell (RDS.A) downgraded to Market Perform from Outperform at Howard Weil
- Consol Energy (CNX) initiated with a Buy at Deutsche Bank
- Steel Dynamics (STLD) initiated with a Buy at Deutsche Bank
- Microsoft (MSFT) initiated with an Outperform at Raymond James
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The company is scrambling to protect its equities arm, which could face declining volume and revenue as competitors close the gap.
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