McDonald’s (NYSE:MCD): UBS has brought its estimates on the fast food giant down to consensus levels, citing increased FX headwinds and lower European sales forecasts. It keeps the shares rated at Buy, with a $110 price target.
Cree (NASDAQ:CREE): Susquehanna has raised its price target on the company, following channel checks which indicated that Q2 LED shipments are tracking better than expected. The price target is now at $72, up from $66, as the firm expects the acceleration will lead to margin expansion and increased confidence in earnings growth. It rates the shares at Positive.
Rackspace (NYSE:RAX): Canaccord sees further downside risk for the company, due to aggressive competitive pricing and increased competition in the cloud ecosystems which will make the OpenStack transition especially challenging. It keeps shares at Hold, with a $37 price target, down from $40.
Discover Financial Services (NYSE:DFS): Credit Suisse prefers shares of Discover over shares of Capital One (NYSE:ONE), given better receivables growth, credit risk, earnings distribution, and valuation, the firm says. It rates the shares of Discover at Outperform with a $50 price target.