Best Buy (NYSE:BBY): SunTrust has brought its rating from Neutral to Buy, and named the company as a Top Pick as it has increased confidence in Best Buy’s turnaround plan and believes operational changes are occurring at a fast rate. Near-term catalysts include P/E expansion, positive comps in 2H 2013, the Samsung shop rollout, another new vendor shop alliance, and passage of the Marketplace Fairness Act. SunTrust has a price target of $35.
MetLife (NYSE:MET): Deutsche Bank is impressed with MetLife, giving the company a Buy rating up from Hold noting that the company is well positioned in any interest rate environment. The price target has also been raised from $46 to $51.
F5 Networks (NASDAQ:FFIV): Valuation concerns, a saturated ADC market, and less exposure to virtual ADCs, AWS, and mobility have led Morgan Stanley to downgrade shares of F5 from Overweight to Equal Weight.
Bristol-Myers Squibb (NYSE:BMY): The company’s Yervoy was a “clear winner” at this year’s ASCO according to Leerink, after early data on one-year survival with the company’s nivolumab plus Yervoy combination was greater than 80 percent in melanoma, nearly double the survival rate announced three years ago with Yervoy. The firm believes Bristol’s leadership position in immuno-oncology could establish a sustainable competitive advantage.