US Top Rating Updates on 10/13: NKE, AXP, MDT, CMCSA and More

Mizuho analyst Anthony Petrone initiated coverage of $Medtronic(MDT.US)$ with a Buy rating and $100 price target. His thesis is supported by the company's large, diversified portfolio, multiple shots-on-goal in "premier" growth categories like robotics, RDN, and CGM, and the company's "fortress balance sheet," Petrone tells investors.

Seaport Global analyst Michael Harrison upgraded $Air Products & Chemicals(APD.US)$ to Buy from Neutral with a $300 price target. In an earnings preview for the 16 Chemicals companies in his coverage, Harrison said he thinks Q3 earnings should "generally be close to expectations," with demand having slowed in September and into October, particularly in commodity-oriented markets.

Goldman Sachs analyst Duffy Fischer initiated coverage of $Linde(LIN.US)$ with a Buy rating and $338 price target. The analyst started 16 U.S. chemical stocks, believing Street earnings expectations "need to come down meaningfully on weak demand," especially on commodity companies. As such, he's more positive on "defensive stocks." Linde is "best-in-class" industrial gas operator, Fischer tells investors in a research note.