Analyst calls: AMR, DAL, UAUA, RYAAY, BIIB, SHW, EQ, INTU, NYT, GOOG, YHOO ...
Posted Oct 28th 2008 10:25AM by Laurie Pasternack
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Google (GOOG), Yahoo! (YHOO), New York Times'A' (NYT), AMR Corp (AMR), UAL Corp (UAUA), Intuit Inc (INTU), Analyst Initiations, Delta Air Lines (DAL), Andersons Inc (ANDE)
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Analyst upgrades:
- Calyon upgraded major network carriers based on falling oil prices and capacity cuts. The analyst is positive over the next 12 months but cautious short-term given the uncertain economy, and volatile markets and oil prices. AMR Corp (NYSE: AMR) and Delta Air (NYSE: DAL) were upgraded to Add from Neutral and UAL Corp (NASDAQ: UAUA) was raised to Neutral from Reduce.
- Ryanair (NASDAQ: RYAAY) was upgraded at Citigroup to Buy from Hold.
- Boardwalk Pipeline (NYSE: BWP) was raised to Buy from Hold at Deutsche Bank.
- Cowen lifted Biogen Idec (NASDAQ: BIIB) to Outperform from Neutral.
- JP Morgan upgraded Choice Hotels (NYSE: CHH) to Neutral from Underweight following the better-than-expected Q3 report.
- Oppenheimer upgraded shares of Integra LifeSciences (NASDAQ: IART) to Outperform from Perform on valuation, the company's minimal exposure to economic conditions, and expectations for margin improvement and a rebound in organic growth.
Analyst downgrades:
- Keefe Bruyette downgraded shares of AmeriCredit (NYSE: ACF) to Underperform from Market Perform following the Q1 earnings beat, as they are incrementally cautious on the company's outlook given economic deterioration.
- Jefferies cut ION Geophysical (NYSE: IO) to Hold from Buy and lowered the target to $6.50 from $16 as they believe the company's land equipment business will be negatively impacted by conservative capital spending.
- PCTEL (NASDAQ: PCTI) was lowered to Neutral from Outperform at Baird.
Analyst initiations:
- Banc of America initiated Intuit (NASDAQ: INTU) with a Neutral rating and $27 target. The firm wants to make sure Street estimates reflect macro risks before becoming positive on the stock.
- Soleil assumed Andersons (NASDAQ: ANDE) with a Hold rating and $33 target and prefers a conservative approach to shares with pricing in the agriculture space coming off elevated levels.
- Google (NASDAQ: GOOG) was initiated with an Outperform rating and $400 target and Yahoo! (NASDAQ: YHOO) was assumed with a Neutral rating at Credit Suisse.
- Citigroup initiated New York Times (NYSE: NYT) with a Sell rating and $7 target and believes the company's "best" internet offering among peers is not enough to offset the premium valuation.
- Babcock & Brown (NYSE: FLY) was started with a Neutral rating at JP Morgan.
Tags: ACF, AER, AErCap Holdings, AercapHoldings, AmeriCredit, AMR, AMR Corp, AmrCorp, ANDE, Andersons, Backcock Brown, BackcockBrown, BIIB, Biogen Idec, BiogenIdec, Boardwalk Pipeline, BoardwalkPipeline, BWP, CenturyTel, CHH, Choice Hotels, ChoiceHotels, CTL, DAL, Delta Airlines, DeltaAirlines, Embarq, EQ, FLY, GOOG, Google, IART, Integra LifeSciences, IntegraLifesciences, inthenews, INTU, Intuit, IO, ION GEophysical, IonGeophysical, New York Times, NewYorkTimes, NYT, PCTEL, PCTI, RYAAY, Ryanair, sherwin williams, sherwin-williams, SherwinWilliams, SHW, UAL Corp, UalCorp, UAUA, Yahoo, YHOO
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