Canadian Pacific Railway Ltd. (NYSE: CP) was cut to Underperform from Sector Perform at RBC Capital Markets.
Equinix Inc. (NASDAQ: EQIX) was maintained for a fresh 12-month term on the US 1 List at BofA/Merrill Lynch.
FedEx Corp. (NYSE: FDX) was reiterated Buy and the target price was raised to $120 from $115 at BofA/Merrill Lynch.
General Electric Co. (NYSE: GE) was reiterated as Buy with $25 price target after getting a Systematically Important Financial Institution designation, according to BofA/Merrill Lynch.
Monolithic Power Systems Inc. (NASDAQ: MPWR) was started as Outperform at Wells Fargo.
PVH Corp. (NYSE: PVH) was cut to an Outperform from the Top Pick at RBC Capital Markets.
Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) was cut to Neutral from Overweight at Piper Jaffray.
SeaWorld Entertainment Inc. (NYSE: SEAS) was started as Outperform at Wells Fargo.
Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ: ULTA) was cut to Neutral from Buy but with a $98 price target rather than the prior $93 target by Goldman Sachs.
Wal-Mart Stores Inc. (NYSE: WMT) was reiterated as Buy with $90 price target ahead of annual meeting at BofA/Merrill Lynch.
Credit Suisse on biotech and ASCO cancer stocks:
At ASCO, we saw promising Phase I data for four antibody drug conjugates. We believe this is the front of a very big wave of new drugs, and in our view, the best positioned biotech companies are Seattle Genetics Inc. (NASDAQ: SGEN) and ImmunoGen, Inc. (NASDAQ: IMGN), and on the pharma side, Roche.
Jefferies offers a list of consumer retail stocks to buy.
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