Baxter (NYSE:BAX): Bernstein is reporting that Baxter is currently trading at a historical low relative to its sum of the parts valuation. The firm thinks that this situation, along with several upcoming catalysts, sets the stage for the company’s multiple to expand. It keeps an Outperform rating on the stock.
Transocean (NYSE:RIG): Global Hunter has downgraded Transocean to Neutral from Buy due to subdued outlook for both deepwater and midwater rigs, and expectations for reduced cost guidance that did not occur. The price target lowered accordingly, to $51 from $64.
SINA (NASDAQ:SINA): Piper Jaffray says it continues to view shares of SINA as undervalued following the company’s deal with Alibaba. Piper raised its price target for SINA to $95 from $75 to reflect the value of the Chinese social market, and keeps an Overweight rating on the stock.
Cisco Systems (NASDAQ:CSCO): JPMorgan has upgraded Cisco shares to Neutral from Underweight citing improving enterprise networking trends, while the firm expects networking spending at enterprises to continue rising through the end of 2013. JPMorgan also upped its price target for shares to $26 from $18.