United Continental (NYSE:UAL): JPMorgan downgraded United Continental to Underweight from Neutral, citing a reduced 2014 earnings outlook following the company’s “discouraging” fourth quarter guidance. The firm lowered its price target for shares to $25 from $32.50.
Northrop Grumman (NYSE:NOC): Bernstein increased its price target on Northrop Grumman shares to $107 from $94 after the company reported stronger than expected third quarter results and raised its 2013 guidance. The firm keeps a Market Perform rating on the stock.
Advance Auto Parts (NYSE:AAP): RBC Capital upgraded Advance Auto to Outperform from Sector Perform, citing substantial earnings accretion from its acquisition of General Parts Inc., the additional cost synergies that likely exist between the two companies, and the incremental revenue growth potential that could materialize from the transaction. The firm’s price target for the shares is $116.
Netgear (NASDAQ:NTGR): Wedbush downgraded Netgear to Neutral from Outperform; the firm does not expect the wireless upgrade cycle and CBU improvement to materialize in the near-term, and notes the disappointing guidance on limited SP visibility, a sluggish European market, and a weak demand for storage in commercial. The firm lowered its price target for the shares to $31 from $36.