Pandora (NYSE:P): Morgan Stanley has upgraded shares of Pandora to Overweight from Equal Weight, as the analyst believes Pandora provides the best exposure to the secular shift of ad dollars towards online channels from terrestrial and views it as one of the top consumer content platforms on the Internet. The price target is $24.
Arkansas Best (NASDAQ:ABFS): Following the Teamsters ratification of its five year labor agreement, RW Baird has raised its price target on Arkansas Best to $24 from $18 and notes that only 21 of 27 supplements were approved and the contract provisions cannot be implemented until all supplements are agreed upon. It keeps a Neutral rating on the shares.
Monster Beverage (NASDAQ:MNST): Morgan Stanley has lifted its estimates further above Street estimates due to better than expected U.S. scanner data and May shipments, and believes Monster will beat estimates for the rest of the year driven by easier comps, a rebound at gas and convenience stores, shipments, and reduced healthcare concerns. The shares are rated Overweight with a with a $70 price target, up from $65.
3M (NYSE:MMM): Morgan Stanley has brought 3M Company to Equal Weight from Overweight, due to recent outperformance and views the company’s risk/reward as balanced. The price target is $112.