Analyst calls: NVS, DWA, APC, RF, GE, MTB, BYD, NWL ...

Posted Sep 23rd 2008 11:00AM by Eric BuscemiEric Buscemi RSS Feed
Filed under: Analyst Upgrades and Downgrades, General Electric (GE), Novartis AG ADS (NVS), Regions Financial (RF), Newell Rubbermaid (NWL), Analyst Initiations, Anadarko Petroleum (APC)

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Analyst upgrades:
  • Credit Suisse upgraded shares of Novartis (NYSE: NVS) to Neutral from Underperform as they believe the stock's defensive characteristics justify a premium valuation.
  • Merrill raised Dreamworks (NYSE: DWA) to Buy from Neutral and has increased confidence in DWA's sustainable success following the performance of Kung Fu Panda and new revenue streams.
  • Anadarko Petroleum (NYSE: APC) was raised to Buy from Hold at Stanford on valuation.
  • Goldman upgraded Smurfit-Stone (NASDAQ: SSCC) and Canadian National (NYSE: CNI) to Buy from Neutral and added International Paper (NYSE: IP) to the Conviction Buy List.
  • Northern Trust (NASDAQ: NTRS) was upgraded to Buy from Neutral at Merrill.
Analyst downgrades:
  • Jefferies downgraded shares of Savvis (NASDAQ: SVVS) to Hold from Buy and lowered the target to $17 from $20 to reflect decreasing visibility from economic headwinds and expectations for increased capex.
  • Citigroup downgraded Regions Financial (NYSE: RF) to Sell from Hold as they believe fundamentals are not in-line with the current valuation following the recent rally.
  • Merrill lowered their General Electric (NYSE: GE) estimates below consensus and downgraded shares to Neutral from Buy citing increased fundamental pressures on the company's GE Capital unit. GE's target was cut to $28 from $37.50.
  • M&T Bank (NYSE: MTB) was lowered to Underperform from Neutral at Baird.
  • Silgan Holdings (NASDAQ: SLGN) was downgraded to Neutral from Buy at Goldman Sachs.
  • Roth Capital cut Cache (NASDAQ: CACH) to Hold from Buy.
Analyst initiations:
  • Jefferies initiated McCormick & Schmick's (NASDAQ: MSSR) with a Buy rating and $12 target. The firm expects stabilizing fundamentals and EPS growth in 2009 to drive multiple expansion.
  • Jesup & Lamont believes O'Reilly Automotive's (NASDAQ: ORLY) dual-marketing strategy toward professionals and do-it-yourselfers provides a competitive advantage. Shares were assumed with a Buy rating and $36 target.
  • Boyd Gaming (NYSE: BYD) was started with a Buy rating and $15 target at Soleil. The firm admits gaming fundamentals are weak but believes investors are ignoring the company's raw land value on the Las Vegas, which they estimate could be worth $3-$7/share.
  • Oppenheimer initiated Advanced Analogic (NASDAQ: AATI) with an Outperform rating and $8 target.
  • Newell Rubbermaid (NYSE: NWL) was assumed with a Neutral rating at SunTrust.
  • Baird initiated SonicWALL (NASDAQ: SNWL) with an Outperform rating and $8 target.

Tags: aati, apc, byd, cach, cni, dwa, ge, ip, mssr, mtb, ntrs, nvs, nwl, orly, rf, slgn, snwl, sscc, svvs

Symbol Lookup
IndexesChangePrice
DJIA+150.2510,058.64
NASDAQ+24.822,150.87
S&P 500+13.781,070.52

Last updated: February 10, 2010: 12:15 AM

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