Abercrombie & Fitch (NYSE:ANF): Jefferies believes that the company’s risk/reward profile looks very attractive, following a meeting with management. The firm expects the company’s domestic business should to start gaining traction and feels now is a good time to accumulate positions in the name. It keeps a Buy rating on A&F shares, with a $60 price target.
Chesapeake (NYSE:CHK): Chesapeake’s Eagle Ford and Haynesville asset sales should make the company cash flow break even for 2013, according to Wunderlich, which believes the sales were done at good prices. It keeps a Buy rating on the shares, with a $30 price target.
Mead Johnson (NYSE:MJN): Morgan Stanley has downgraded Mead Johnson to Equal Weight from Overweight, due to competitor price reductions in China. The price target has also been lowered, to $76.
Zoetis (NYSE:ZTS): Bank of America/Merrill Lynch has upgraded Zoetis to Buy from Neutral, as the firm views valuation as “compelling” given strong industry fundamentals, the removal of the Pfizer overhang, competitive advantages, and recent news flow. The price target holds steady at $35.