Equity Brief: Ratings Changes for November 19th: PENN, PETM, PNNT, RMBS, SAP, SDT, SEP, SIRO, SU

A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/equitybriefdaily) and Equity Brief:

Susquehanna raised its price target on shares of Penn National Gaming (NASDAQ: PENN) from $49.00 to $57.00. They have a positive rating on the stock.

Barclays Capital upgraded shares of Petsmart Inc (NASDAQ: PETM) from an equal weight rating to an overweight rating.

Robert W. Baird downgraded shares of PennantPark Investment Corp. (NASDAQ: PNNT) from an outperform rating to a neutral rating. Their analysts now have a $11.00 price target on the stock, down previously from $12.00.

JPMorgan Chase upgraded shares of Rambus Inc. (NASDAQ: RMBS) from a neutral rating to an overweight rating. JPMorgan Chase now has a $7.00 price target on the stock. They wrote, "After falling 46% year-to-date (S&P 500 up 8.1%), we think the stock, trading at trough-level multiples, is now largely de-risked. At $4.00-$4.50 we think investors are limited from further downside by the value of SBG contracted revenue (even withoutrenewals) plus cash on hand, and the break-up value of the LED and CRI new businesses. We believe a potential settlement with Hynix presents near-term upside for short-term investors."

William Blair upgraded shares of SAP Aktiengesellschaft (NYSE: SAP) from a market perform rating to an outperform rating.

Raymond James upgraded shares of SandRidge Mississippian Trust I (SDT) from an underperform rating to a market perform rating.

Citigroup upgraded shares of Spectra Energy Partners, LP (SEP) from a neutral rating to a buy rating. Citigroup now has a $33.00 price target on the stock.

Stifel Nicolaus raised its price target on shares of Sirona Dental (SIRO) from $68.00 to $72.00. They have a buy rating on the stock.

JPMorgan Chase upgraded shares of Suncor Energy Inc. (SU) from a neutral rating to an overweight rating.

Aegis initiated coverage on shares of Trius Therapeutics Inc (TSRX). They issued a buy rating on the stock and set a $15.00 price target.

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Source: Equity Brief via Thomson Reuters ONE

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