.gif){kind=logo}
Analyst upgrades:- UBS upgraded Safeway (NYSE:SWY) to Buy from Neutral based on valuation.
- AthroCare (NASDAQ:ARTC) was raised to Neutral from Negative at Susquehanna on valuation.
- BT Group (NYSE:BT) was raised to Neutral from Underperform at Credit Suisse.
- Leap Wireless (NASDAQ:LEAP) was upgraded at Goldman to Buy from Neutral.
- China Mobile (NYSE:CHL) was upgraded to Buy from Neutral at Merrill Lynch.
- Jefferies downgraded shares of Albany Molecular (NASDAQ:AMRI) to Underperform from Hold on concerns regarding the company's exposure to small biopharma as their checks suggest biopharmaceutical companies that rely on the capital markets to fund operations are cutting back significantly on R&D projects. The firm lowered their target to $8 from $10.
- Baird downgraded Sirona Dental (NASDAQ:SIRO) to Neutral from Outperform and lowered their target to $15 from $21 due to lack of catalysts and better options in dental.
- Stephens cut Hub Group (NASDAQ:HUBG) to Equal Weight from Overweight on the expectation that weaker volumes will lead to pricing pressure. The firm lowered their target to $24 from $36.
- Teco Energy (NYSE:TE) was downgraded to Hold from Buy at KeyBanc.
- RF Micro Devices (NASDAQ:RFMD) was lowered to Underperform from Buy at Merrill Lynch.
- Energy Conversion (NASDAQ:ENER) was cut to Underweight from Equal Weight at Barclays.
Analyst initiations:
- Merriman initiated Omnitek Engineering (OTC:OMTK) with a Neutral rating, citing the company's need for additional capital to fund its operations.
- Stanford views ICx Technologies (NASSAQ:ICXT) as a "defensive growth play" based on its defense/homeland security government market focus. Shares were assumed with a Buy rating and $10 target.
- Roth Capital initiated Pharmasset (NASDAQ:VRUS) with a Sell rating due to pipeline concerns. The firm said resistance to VRUS's R7128 may be a problem and the drug may have toxicity issues, and that its Clevudine drug is not differentiated enough.
- Marvel (NYSE:MVL) and Dreamworks (NYSE:DWA) were initiated with Equal Weight ratings at Morgan Stanley.
- Citigroup initiated BAE Systems (NASDAQ:BAESY) with a Buy rating.
- Synaptics (NASDAQ:SYNA) was assumed at JP Morgan with an Overweight rating.
Cramer on BloggingStocks: Don't paint everything with the jobs brush
Seven banks go up in smoke ahead of the holiday weekend
Sears offering hedge for consumers who lose their job -- good idea?
