Despite the US market losing its morning gains, several stocks were either upgraded or downgraded by analysts and rating agencies. Some notable stocks are discussed here.
Alcatel-Lucent (NYSE: ALU) shares gained 5.41 percent or 31 cents to $5.95 as it is upgraded to Overweight from Equal-Weight by analysts at Morgan Stanley.
LM Ericsson Telephone Co. (Nasdaq: ERIC) shares slipped 0.55 percent or 7 cents to $12.76 despite being upgraded to Equal-Weight from Underweight at Morgan Stanley.
Brokerage firm Robert W. Baird & Co has hoisted ExlService Holdings Inc (Nasdaq: EXLS) to Outperform from Neutral, which raised its price objective to $24 from $23. Shares of ExlService added 2.27 percent or 43 cents to $19.40.
Analysts at TD Newcrest has upgraded EXFO Inc (Nasdaq: EXFO) to Buy from Hold. Shares of EXFO gained 1.83 percent or 15 cents to $8.36.
Nokia Corporation (NYSE: NOK) is downgraded to Underweight from Equal Weight at Morgan Stanley. Nokia's shares slipped 0.57 percent or 5 cents to $8.68.
Shares of Arcelor Mittal (NYSE: MT) lost 0.84 percent or 30 cents to $35.50 as it is reduced to Hold from Buy at Societe Generale.
The Benchmark Company has downgraded Sunoco, Inc (NYSE: SUN) to Sell from Hold with a price target of $34. Shares of Sunoco fell 0.65 percent or 28 cents to $42.61
SemiLEDS Corp. (Nasdaq: LEDS) is reduced to Hold from Buy with a price target of $11 at Canaccord Genuity. Shares of SemiLEDS slipped 4.47 percent or 51 cents to $10.90.