Key Calls (Thursday): Upgrades, Downgrades, & Initiations

Via Bloomberg

• Banc of California (BANC) raised to outperform at FBR, PT $22
• Central Pacific Financial (CPF) raised to buy at Compass, PT $34
• Clovis Oncology (CLVS) raised to overweight at Piper Jaffray, PT $77
• Estee Lauder (EL) raised to outperform at Oppenheimer, PT $92
• Grainger (GWW) raised to hold at Deutsche Bank
• International Paper (IP) raised to buy at Citi
• MSC Industrial (MSM) raised to hold at Deutsche Bank
• Meritor (MTOR) raised to buy at Stifel, PT $17
• RPC (RES) raised to buy at Guggenheim, PT $29
• RPC (RES) raised to outperform at Credit Suisse, PT $25
• Scientific Games (SG) raised to buy at BofAML, PT $20
• Texas Capital (TCBI) raised to strong buy at Raymond James, PT $95
• United Rentals (URI) raised to market outperform at Avondale, PT $145
• WGL (WGL) raised to neutral at UBS, PT $82
• Wabash National (WNC) raised to hold at Stifel, PT $17
• Washington Trust (WASH) raised to buy at Compass Point, PT $61

• Arctic Cat (ACAT) cut to hold at Jefferies, PT $18.50
• Codexis (CDXS) cut to equal-weight at First Analysis, PT $5.50
• Heska (HSKA) cut to neutral at CL King
• Hope Bancorp (HOPE) cut to market perform at KBW
• International Game (IGT) cut to neutral at BofAML, PT $30
• J&J (JNJ) cut to market perform at Wells Fargo
• Mattel (MAT) cut to neutral at MKM, PT $27
• Meredith (MDP) cut to hold at Benchmark, PT $64
• Navios Maritime Midstream (NAP) cut to neutral at Citi, PT $11
• VCA (WOOF) cut to neutral at CL King
• Varian (VAR) cut to sell at Evercore ISI, PT $81.50