Chevron Corp. (NYSE: CVX): Oppenheimer & Co. on Thursday upgraded its rating on the company to outperform to Perform with a price target of $110 a share. In a research note to clients, the firm stated that the recent pullback in the stock has created a buying opportunity. "We think market volatility will accelerate investors' flight to quality and benefit CVX. Chevron has the highest unit profit in the industry, and its earnings are highly leveraged to the price of crude oil, which accounts for 68% of production." After spending heavily on capital projects, Chevron plans to start boosting its production by 4% to 5% a year after 2014, the highest among its peers.
Intuitive Surgical, Inc. (NASDAQ: ISRG): ThinkEquity initiated coverage on the company with a Hold rating and a price target of $330.
Cree Inc. (NASDAQ: CREE): Morgan Stanley upgraded its rating on Cree to Overweight from Underweight.
Texas Instruments Inc. (NYSE: TXN): Longbow Research downgraded its rating on the comany to Neutral from Buy following checks that indicate continued industry order weakness through July.
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