Analyst calls: SAI, KLAC, QCOM, MRVL, UL, CMG, HPQ, AAPL, DELL ...
Posted Sep 4th 2008 11:25AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Apple Inc (AAPL), Dell (DELL), Hewlett-Packard (HPQ), Chipotle Mexican Grill'A' (CMG), QUALCOMM Inc (QCOM), Analyst initiations, Unilever ADR (UL)
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Analyst upgrades:
- Oppenheimer upgraded shares of Shanda Interactive (NASDAQ: SNDA) to Outperform from Perform following the company's better-than-expected quarter to reflect its growth acceleration in the casual games platform and margin improvements.
- SAIC (NYSE: SAI) was upgraded to Outperform from Market Perform following the solid Q2 report and guidance.
- Susquehanna upgraded Zumiez (NASDAQ: ZUMZ) to Positive from Neutral citing positive August comps, revised merchandising, easier comps, and solid financial position.
- Goldman Sachs upgraded Pharm Product Development (NASDAQ: PPDI) and Steel Dynamics (NASDAQ: STLD) to Buy from Neutral.
- Novellus (NASDAQ: NVLS) was raised to Overweight from Equal Weight at Morgan Stanley.
Analyst downgrades:
- Morgan Stanley downgraded the Semiconductor Capital Equipment sector to In-Line from Attractive citing optimistic expectations for Q4 orders following the recent bounce in stocks. The firm downgraded Lam Research (NASDAQ: LRCX) to Underweight from Overweight and KLA-Tencor (NASDAQ: KLAC) KLAC to Equal Weight from Overweight.
- Forest Labs (NYSE: FRX) was cut to Neutral from Buy at UBS citing disappointing Aclidinium data.
- Goldman removed Qualcomm (NASDAQ: QCOM) from the Conviction Buy List.
- Lehman downgraded Unilever (NYSE: UL, UN) to Underweight from Equal Weight.
- Marvell Tech (NASDAQ: MRVL) was lowered to Hold from Buy at Deutsche Bank.
Analyst initiations:
- William Blair initiated Chipotle Mexican Grill (NYSE: CMG) with a Market Perform rating. The firm believes slowing comps could pressure the stock's multiple and put risk on 2009 estimates.
- Alliance Data Systems (NYSE: ADS) was assumed with a Buy rating and $82 target at Banc of America. The firm believes earnings growth may accelerate into 2009 with easier comps.
- Calyon initiated the IT Hardware Sector & Storage sectors. Hewlett Packard (NYSE: HPQ) was initiated with a Buy rating and $60 target, Apple (NASDAQ: AAPL) was assumed with an Add rating and $19 target, and Dell (NASDAQ: DELL) was initiated with a Neutral rating and $23 target.
Tags: aapl, ads, cmg, dell, frx, hpq, inthenews, klac, lrcx, mrvl, nvls, ppdi, qcom, sai, snda, stld, ul, un, zumz
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