Analyst calls: GM, F, CB, MER, LLY, UL, BRCM, AAPL, PALM ...
Posted Sep 16th 2008 12:13PM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Apple Inc (AAPL), Ford Motor (F), General Motors (GM), Chubb Corp (CB), Merrill Lynch (MER), Palm Inc (PALM), Lilly (Eli) (LLY), Analyst initiations, Broadcom Corp'A' (BRCM), Unilever ADR (UL), JetBlue Airways (JBLU)
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Analyst upgrades:
- Merrill upgraded shares of General Motors (NYSE: GM) and Ford (NYSE: F) to Neutral from Underperform on expectations for fundamentals to improve in 2009.
- Citigroup upgraded Chubb (NYSE: CB) and Travelers Group (NYSE: TRV) to Buy from Hold as they expect the company to benefit from the AIG (NYSE: AIG) fallout. The firm raised Chubb's target to $57 from $56 and Travelers Group's target to $51.50 from $49.50.
- Credit Suisse upgraded shares of SAP AG (NYSE: SAP) to Outperform from Neutral as they believe margin expansion can drive higher profitability.
- JetBlue (NASDAQ: JBLU) was upgraded to Buy from Hold at Argus.
- Goldman raised Merrill Lynch (NYSE: MER) to Neutral from Sell.
- NetLogic (NASDAQ: NETL) was upgraded to Buy from Neutral at Piper.
Analyst downgrades:
- JP Morgan downgraded Eli Lilly (NYSE: LLY) to Underweight from Neutral citing the company's early stage pipeline and generic competition.
- Merrill downgraded Unilever (NYSE: UL) to Neutral from Buy as they believe the incoming CEO is unlikely to bring a major restructuring or split up the company.
- UBS downgraded Broadcom (NASDAQ: BRCM), Micron (NYSE: MU) and Lam Research (NASDAQ: LRCX). The analyst assigned a Short-Term Sell rating on KLA-Tencor (NASDAQ: KLAC) and a Short-Term Buy rating on Qimonda (NYSE: QI). The firm said there has been a deceleration in orders in recent weeks and they do not expect an improvement in semiconductor equipment orders until at least 3Q09.
- Apple (NASDAQ: AAPL) and NRG Energy (NYSE: NRG) were removed from Goldman's Conviction Buy List.
- Zep Inc (NYSE: ZEP) was lowered to Hold from Buy at KeyBanc.
- Argus cut Diamond Management (NASDAQ: DTPI) to Sell from Hold.
Analyst initiations:
- William Blair initiated GreenHunter Energy (NYSE: GRH) with an Outperform rating. The firm believes demand for alternatives to traditional energy sources is increasing rapidly, creating rapid growth potential for the company.
- Lazard Capital Markets started Concur Tech (NASDAQ: CNQR) with a Hold rating on valuation.
- Morgan Joseph is positive on Palm's (NASDAQ: PALM) newest smartphone devices and its push into the mass market. Shares were assumed with a Buy rating and $10 target.
- MedAssets (NASDAQ: MDAS) and McDermott (NYSE: MDR) were initiated at UBS with Buy ratings.
- Morgan Stanley started Atwood Oceanics (NYSE: ATW) with an Equal Weight rating and $54 target and Oceaneering (NYSE: OII) with an Overweight rating and $85 target.
Tags: aapl, atw, brcm, cb, cnqr, dtpi, f, gm, grh, inthenews, jblu, klac, lly, lrcx, mdas, mdr, mer, mu, netl, nrg, oii, palm, qi, sap, trv, ul, zep
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Reader Comments (Page 1 of 1)
9-16-2008 @ 5:08PM
BILL said...
NOW THAT GOLDMAN SACKS HAS REMOVED APPLE FROM THEIR CONVICTION BUY LIST, I THINK THEY SHOULD NOW ALSO REMOVE GS AS WELL OR JUST ADD IT TO THEIR SELL LIST.
BILL