Analyst calls: NOK, NHP, PCR, RIO, DT, UPS, BLK, ADSK, DAI, UNT ...
Posted Dec 9th 2008 11:55AM by Eric Buscemi
Filed under: Analyst upgrades and downgrades, DaimlerChrysler (DAI), Nokia Corp. (NOK), United Parcel'B' (UPS), Analyst initiations
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Analyst upgrades:
- Goldman upgraded Nokia (NYSE: NOK) to Neutral from Sell on valuation and believes the company's guidance is realistic.
- SMH Capital upgraded GMX Resources (NASDAQ: GMXR) to Accumulate from Neutral and is positive on the company's capex reduction.
- Wachovia raised Nationwide Health Services (NYSE: NHP) to Outperform from Market Perform to reflect the company's diversified portfolio and "solid" capital position.
- Portugal Telecom (NYSE: PT) was upgraded to Equal Weight from Underweight at Morgan Stanley.
- Omnicare (NYSE: OCR) was upgraded to Buy from Hold at Soleil.
- SKF AB (OTC: SKFRY) was upgraded at JP Morgan to Neutral from Underweight.
Analyst downgrades:
- B. Riley downgraded shares of IberiaBank (NASDAQ: IBKC) to Neutral from Buy and lowered their target to $49 from $54 to reflect dilution associated with the company's capital raise.
- Deutsche Bank downgraded Vale (NYSE: RIO) to Hold from Buy to reflect lower iron ore price estimates and recent cuts in production.
- Wachovia cut Blackrock (NYSE: BLK) to Market Perform from Outperform based on continued challenges for non-traditional asset management products, earnings pressure, and valuation.
- Roper Industries (NYSE: ROP) was lowered to Hold from Buy at Citigroup.
- United Parcel Service (NYSE: UPS) was downgraded at JP Morgan to Neutral from Overweight.
- Deutsche Telekom (NYSE: DT) and France Telecom (NYSE: FTE) were downgraded to Underweight from Overweight at Morgan Stanley.
Analyst initiations:
- Jefferies believes Covanta (NYSE: CVA) can be viewed as "safety name" in the clean tech space due to its recession-resistant business model. Shares were initiated with a Buy rating and $28 target.
- Unit Corp (NYSE: UNT) was initiated with a Hold rating at Jesup & Lamont citing the anticipated decline in land rigs.
- KeyBanc believes Autodesk (NASDAQ: ADSK) will continue to consolidate its position in computer aided design, enabling the company to capitalize on long-term growth of global infrastructure, building, and manufacturing. The firm started shares with a Buy rating and $23 target.
- Axys Technologies (NASDAQ: AXYS) was assumed at Morgan Keegan with a Market Perform rating.
- CTC Media (NASDAQ: CTCM) was initiated at ING Group with a Buy rating and $9.10 target.
- Daimler (NYSE: DAI) was initiated with an Overweight rating at JP Morgan.
Tags: adsk, axys, blk, ctcm, cva, dai, dt, fte, gmxr, ibkc, nhp, nok, ocr, pt, rio, rop, skfry, unt, ups
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