Procter & Gamble (NYSE:PG): Wells Fargo upgraded Procter & Gamble to Outperform from Market Perform, noting a positive risk/reward and improved execution under its new management. The firm has raised the price target range for the shares to $85-$87 from $78-$82.
Wells Fargo (NYSE:WFC): Macquarie downgraded Wells Fargo to Neutral from Outperform due to slowing loan growth, negative operating leverage, and less credit leverage than its peers. The price target for the shares is $44.
Starbucks (NASDAQ:SBUX): Piper Jaffray believes the fourth quarter consensus estimates for Starbucks are achievable and believes an increase to the company’s current 21c quarterly dividend is possible. Piper raised its price target for the shares to $85 from $75 ahead of the fourth quarter results at the end of the month and keeps an Overweight rating on the stock.
Intel (NASDAQ:INTC): Canaccord lowered its Intel estimates given weakness in the electronics supply chain that suggests a steepening decline for PCs. The firm said display suppliers, distributors, and notebook ODMs (Original Design Manufacturers) all indicate second half weakness for notebooks due to cannibalization trends from tablets and other launches. The shares are Hold rated and the price target is $20.