Equity Brief: Ratings Changes for December 12th: CNX, CR, CSTR, CYN, CZZ, DCIN, DDD, DECK
Davenport upgraded shares of CONSOL Energy Inc. (CNX) from a neutral rating to a buy rating. Davenport now has a $40.00 price target on the stock, up previously from $33.00. They wrote, " The upgrade is based on our view that CNX's valuation multiple will peak in 2013, driven by a recovery in met coal prices and increased focus on the value of the company's E&P assets. We expect a rebound in met prices will drive improved investor sentiment towards CNX. This should propel its multiple to peak levels as investors anticipate higher met prices driving earnings growth in 2014. Additionally, we expect investors to increasingly focus on the value of company's E&P assets as sentiment towards nat. gas improves."
Capstone initiated coverage on shares of Crane Co. (CR). They issued a buy rating on the stock and set a $52.00 price target.
Northland Securities upgraded shares of Coinstar (CSTR) from a market perform rating to an outperform rating. Northland Securities now has a $62.00 price target on the stock, up previously from $48.00.
Wells Fargo & Co. initiated coverage on shares of City National Co. (CYN). They issued a market perform rating on the stock.
Barclays Capital initiated coverage on shares of Cosan Limited (CZZ). They issued an overweight rating on the stock and set a $21.00 price target.
B. Riley initiated coverage on shares of Digital Cinema Destinations Corp (DCIN). They issued a neutral rating on the stock and set a $6.50 price target.
JPMorgan Chase upgraded shares of 3D Systems Co. (DDD) from an underweight rating to a neutral rating. JPMorgan Chase now has a $50.00 price target on the stock, up previously from $39.00.
Janney Montgomery Scott initiated coverage on shares of Deckers Outdoor (DECK). They issued a buy rating on the stock and set a $50.00 price target.
Stifel Nicolaus downgraded shares of Douglas Emmett, Inc. (DEI) from a buy rating to a hold rating.
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Source: Equity Brief via Thomson Reuters ONE