Analyst calls: AMGN, BBY, KMB, DKS, RYAAY ...
Posted Jul 28th 2008 11:11AM by Eric Buscemi
Filed under: Analyst upgrades and downgrades, Best Buy (BBY), Kimberly-Clark (KMB), Amgen Inc (AMGN), Analyst initiations
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Analyst upgrades
- Rodman & Renshaw upgraded shares of Amgen (NASDAQ: AMGN) to Outperform from Market Perform following the positive top line results from the FREEDOM study. The firm established an $80 target. Jefferies upgraded shares to Buy from Hold following the positive top-line efficacy and safety results for Denosumab in PMO as they view it as a "big win." The firm raised their target to $71 from $47.
- Best Buy (NYSE: BBY) was upgraded to Buy from Neutral at Banc of America.
- Goldman upgraded Kimberly Clark (NYSE: KMB) to Neutral from Sell and Dick's Sporting Good (NYSE: DKS) to Buy from Neutral.
- Rowan Companies (NYSE: RDC) was lifted at JP Morgan to Neutral from Underweight.
Analyst downgrades:
- Jesup & Lamont downgraded shares of Moog (NYSE: MOG.A) to Neutral from Buy on concerns of the company's high rate of R&D and its relative valuation. Keefe Bruyette downgraded shares of Federated Investors to Market Perform from Outperform following the company's lower than expected Q2 results and cut their target to $35.
- Ryanair (NASDAQ: RYAAY) was cut to Hold from Buy at Citigroup.
Analyst initiations:
- Morgan Joseph believes Amgen (NASDAQ: AMGN)'s positive FREEDOM trial results will have a profound and lasting impact on the company's growth but also on its scientific credibility. The firm initiated coverage with a Buy rating and $77 target.
- Piper assumed Ctrip.com (NASDAQ: CTRP) with a Neutral rating and Epicor Software (NASDAQ: EPIC) with a Buy rating and $8 target.
- Banc of America initiated Britannia Bulk (NYSE: DWT) with a Buy rating and $19 target.
Tags: amgn, bby, ctrp, dks, dwt, epic, inthenews, kmb, mog.a, rdc, ryaay
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