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Equity Brief: Ratings Changes for November 29th: ADI, ADM, ADT, AEP, AIV, ALTR, ARO, ATVI


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Copyright © Thomson Reuters 2012. All rights reserved.
2012-11-29 16:09:32 -

A number of stocks were upgraded and downgraded by equities research analysts
today, as reported by Analyst Ratings Network ( bit.ly/equitybriefdaily)
and Equity Brief:

UBS AG raised its price target on shares of Analog Devices, Inc. (ADI) from
$38.00 to $41.00. They have a neutral rating on the stock.

Stephens initiated coverage on shares of Archer Daniels Midland Company (ADM).
They issued an equal weight rating on the stock and set a $28.00 price target.

Barclays Capital raised its price target on shares of ADT Co. (ADT) from $38.00
to $43.00. They have an equal weight rating on the stock.

Zacks reiterated its neutral rating on shares of American Electric Power (AEP).
They have a $44.00 price target on the stock. Zacks' analyst wrote, "American
Electric Power Company Inc. is one 
of the largest investor-owned utility holding companies in the country, catering to over 5 million customers spread over 11 states. Historically, however, the company trades at a discount to its large cap electric power utility peers due to its high earnings exposure to industrial customers and its major presence in Ohio. Going forward, the company offers stable earnings through consistent performance in core regulated operations, growth through transmission network expansion and an above average dividend yield. However, tepid economies in a number of its service states restrict opportunities for growth. Also, uncertainty surrounding pending regulatory cases, its predominantly fossil-fuel based generation assets and lower wholesale sales continue to weigh on the valuation of the stock." BMO Capital Markets upgraded shares of Apartment Investment & Management Co (AIV) from a market perform rating to an outperform rating. BMO Capital Markets now has a $28.00 price target on the stock, up previously from $27.00. SunTrust initiated coverage on shares of Altera (ALTR). They issued a neutral rating on the stock and set a $33.00 price target. Caris & Co. downgraded shares of Aeropostale, Inc. (ARO) from an above average rating to an average rating. Their analysts now have a $18.00 price target on the stock. Sterne Agee downgraded shares of Activision Blizzard Inc (ATVI) from a buy rating to a neutral rating. BMO Capital Markets upgraded shares of AvalonBay Communities, Inc. (AVB) from an underperform rating to a market perform rating. BMO Capital Markets now has a $135.00 price target on the stock, up previously from $134.00. Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at bit.ly/equitybriefdaily Content and Media Contact: newseditor@equitybrief.net This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Equity Brief via Thomson Reuters ONE [HUG#1661497]


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