As the US market started Tuesday's trading on a negative note, several stocks were either upgraded or downgraded by analysts and rating agencies. Some of the notable stocks are discussed here.
Kinder Morgan Inc. (NYSE: KMI), one of the largest pipeline transportation and energy storage companies in North America, is upgraded to the Conviction List with a price target of $32 by analysts at Goldman Sachs. They state that they see multiple sources of upside to earnings of the former, both organically and through acquisitions. Shares of Kinder Morgan added 2.32 percent or 59 cents to trade at $26.07.
Analysts at Canaccord Genuity raise the shares rating of Forest Oil Corp. (NYSE: FST), a leading producer of oil and natural gas in the US, to Buy from Hold. They lower the stock's price target to $22 from $30. They state that they are upgrading Forest Oil though lowering its PT due to spin-off of the company's Canadian business. They add that the firm is migrating toward longer lateral completions that should boost its Eagle Ford production rates and improve go-forward capital productivity. Shares of Forest Oil jumped 10.35 percent or 92 cents to trade at $9.81.
Analysts at Goldman Sachs upgrade the shares rating of Beam Inc. (NYSE: BEAM), a San Francisco-based international consulting firm dedicated to supporting the creative, positive changes that are emerging in all sector, to Buy from Neutral and adding it to its Conviction List with a price target of $50. They state that the form is an appearing merger and acquisition target that provides support to its shares. Shares of Beam rose 1.29 percent or 56 cents to trade at $43.81.
Sirona Dental Systems Inc. (Nasdaq: SIRO), a leading global manufacturer of technologically advanced, high quality dental equipments, is raised to Buy from Hold with a price target of $57 by analysts at Jefferies. They state that the stock's current valuation appears attractive and risk/reward compelling. Shares of Siro added 1.50 percent or 60 cents to trade at $40.72.
AGCO Corp. (NYSE: AGCO), which offers a broad range of tractors, combines, sprayers and tillage equipments, is downgraded to Neutral from Buy by analysts at Bank of America/Merrill Lynch. The company plans to acquire GSI Holdings Corp, an Illinois-based manufacturer of grain silos and chicken and hog farm equipments. Shares of AGCO slipped 2.66 percent or 86 cents to trade at $31.53.
Amedisys Inc. (Nasdaq: AMED), a leading home health services company, is lowered to Hold from Buy by analysts at Deutsche Bank. They lower the stock's price target to $15 from $28. They state that the downgrade Amedisys after a U.S. inquiry found the home-care providers made added visits to Medicare patients to trigger federal bonuses. Shares of Amedisys tumbled 10.37 percent or $1.39 to trade at $12.01.