Sprint (NYSE:S): Citigroup has downgraded Sprint to Neutral from Buy, citing valuation and expectations for rising debt levels due to wireless acquisitions and accelerated investments, although it raised its price target for shares to $7.50 from $6.50 and points out that shares of Sprint were upgraded this morning at Deutsche Bank.
Palo Alto Networks (NYSE:PANW): UBS has upgraded Palo Alto to Buy from Neutral, citing an attractive valuation, reduced competitive concerns, and expectations management will do what’s best for shareholders regarding the Juniper litigation. The firm keeps a $55 price target.
Finisar (NASDAQ:FNSR): Needham upgraded Finsiar to Strong Buy from Buy, based on strong new products, DataComm growth acceleration, and increasing margins and earnings expectations. The price target has also been raised to $22 from $20.
Transocean (NYSE:RIG): Despite beliefs that most of the good news is reflected in offshore drilling stocks, BMO Capital has downgraded Transocean to Market Perform from Outperform, as it thinks it will perform with the group. The price target is set for $54.
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