Analyst calls: ORLY, DISH, M, KSS, DPS, CRM, LLY ...
Posted Aug 20th 2008 11:51AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades, Kohl's Corp (KSS), Yamana Gold (AUY), Amgen Inc (AMGN), Lilly (Eli) (LLY), Analyst Initiations, salesforce.com inc (CRM)
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Analyst upgrades:
- JP Morgan upgraded O'Reilly (NASDAQ: ORLY) to Overweight from Neutral, citing increased demand and CSK acquisition synergies.
- Yamana Gold (NYSE: AUY) was raised to Outperform from Sector Perform by RBC Capital, based on valuation and the firm's expectation that gold will rally.
- HSBC upgraded KLA-Tencor (NASDAQ: KLAC) to Overweight from Neutral with a $44 target.
Analyst downgrades:
- Bernstein dropped DISH Network (NASDAQ: DISH) to Underperform from Market Perform, citing continued weak operations, declining cash flow, and satellite sector headwinds, among other reasons.
- Macy's (NYSE: M) was downgraded to Neutral from Buy by Goldman Sachs based on valuation.
- Kohl's (NYSE: KSS) was also dropped to Neutral from Buy by Goldman based on valuation.
- UBS downgraded Dr Pepper Snapple (NYSE: DPS) to Neutral from Buy based on valuation.
Analyst initiations:
- Salesforce.com (NYSE: CRM) was started with a Buy rating by Kaufman Bros., which believes the core on-demand CRM application market is nowhere close to full penetration.
- Caris initiated Eli Lilly (NYSE: LLY) with a Below Average rating, citing the company's Zyprexa and Cymbalta patent expirations.
- Leerink Swann assumed coverage of Amgen (NASDAQ: AMGN) with an Outperform, as the firm predicts that the company's denosumab will allow the company to substantially increase its earnings starting in 2010.
Tags: amgn, auy, crm, dish, dps, inthenews, klac, kss, lly, m, orly
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