Analyst calls: CHS, CQB, CLWR, KO, K, ESLR, DT, FSLR, NBR
Posted Nov 18th 2008 11:11AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Coca-Cola (KO), Kellogg Co (K), Analyst initiations
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Analyst upgrades:
- Cowen upgraded Aaron Rents (NYSE: RNT) to Outperform from Neutral and believes the company's business model is gaining momentum despite the difficult environment. The firm views valuation as attractive.
- Citigroup upgraded shares of MedCath (NASDAQ: MDTH) to Hold from Sell on valuation following the recent sell-off. The company's target was lowered to $9 from $19.
- Stanford upgraded AeroVironment (NASDAQ: AVAV) to Buy from Hold based on valuation and because they believe its visibility over the next year has improved.
- Chiquita Brands (NYSE: CQB) was lifted to Buy from Hold at BB&T.
- Chico's FAS (NYSE: CHS) was upgraded to Neutral from Sell at UBS.
- FCStone (NASDAQ: FCSX) was raised to Strong Buy from Outperform at Raymond James.
Analyst downgrades:
- RBC Capital downgraded Clearwire (NASDAQ: CLWR) to Sector Perform from Outperform based on reduced valuation parameters and lack of catalysts. The company's target was lowered to $9 from $15.
- Kellogg (NYSE: K) and Coca-Cola (NYSE: KO) were cut to Neutral from Buy at UBS.
- Evergreen Solar (NASDAQ: ESLR) was downgraded at JP Morgan to Underweight from Neutral.
- Deutsche Telekom (NYSE: DT) was downgraded to Neutral from Buy at Goldman and to Hold from Buy at Deutsche Bank.
- Morgan Stanley downgraded Southern Peru (NYSE: NYSE: PCU) to Underweight from Equal Weight citing lower molybdenum prices and higher operating costs.
- Oppenheimer believes Albermarle's (NYSE: ALB) end markets could remain under pressure into 2009. Shares were downgraded to Underperform from Perform.
Analyst initiations:
- Baird initiated New Oriental Education (NYSE: EDU) with a Neutral rating and $64 target citing concerns of high 2Q09 expectations and the economic slowdown.
- Roth Capital believes China Green (NASDAQ: CGAG) is well positioned for strong top and bottom line growth given expansion of manufacturing capacity and R&D facility, market share gains, new product development, and increased demand for organic fertilizer. Shares were started with a Buy rating and $5 target Jesup &
- Lamont assumed coverage of Nabors Industries (NYSE: NBR) with a Hold rating. The firm cited near-term uncertainty in the commodity market and demand destruction.
- First Solar (NASDAQ: FSLR) was initiated at JP Morgan with an Overweight rating.
- Schnitzer Steel (NASDAQ: SCHN) and Commercial Metals (NYSE: CMC) were initiated with Equal Weight ratings at Morgan Stanley.
Tags: alb, avav, cgag, chs, clwr, cmc, cqb, dt, edu, eslr, fcsx, fslr, k, ko, mdth, nbr, pcu, rnt, schn
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