Upgrades and downgrades before the market open

Market news

16 December 2015

Upgrades and downgrades before the market open

Upgrades:

Chevron (CVX) upgraded to Buy from Hold at Argus; target $100

Downgrades:

Caterpillar (CAT) downgraded to Hold from Buy at Deutsche Bank

Other:

Apple (AAPL) target lowered to $130 from $140 at UBS

3M (MMM) target lowered to $136 from $140 at RBC Capital Mkts

UnitedHealth (UNH) initiated with a Outperform at Credit Suisse

MasterCard (MA) initiated with a Buy at UBS

Visa (V) initiated with a Buy at UBS

Wall Street. Stocks before the bell

Housing starts in the U.S. jump 10.5% in November

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