Analyst calls: RTP, INTC, VIA.B, TEF, BRCD, JBL, ERIC, CEPH ...
Posted Dec 11th 2008 11:41AM by Eric Buscemi
Filed under: Analyst upgrades and downgrades, Intel (INTC), Viacom (VIA), Analyst initiations, Rio Tinto plc ADS (RTP)
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Analyst upgrades:
- Citigroup upgraded shares of Ball (NYSE: BLL) to Buy from Hold and raised its target to $45 from $41 as they believe recent capacity closures will be positive for beverage can operating rates.
- Deutsche Bank upgraded Rio Tinto (NYSE: RTP) to Buy from Hold on valuation and the company's plans to preserve cash.
- ThinkPanmure upgraded Intel (NASDAQ: INTC) to Accumulate from Sell and raised its target to $17 from $12 citing trough earnings in 2009 and lowered expectations.
- Viacom B (NYSE: VIA.B) was added to Goldman's Conviction Buy List.
- Telefonica (NYSE: TEF) was upgraded to Outperform from Neutral at Credit Suisse.
- Onyx Pharma (NASDAQ: ONXX) was raised to Overweight from Neutral at JP Morgan.
Analyst downgrades:
- Jefferies downgraded shares of Foundry Networks (NASDAQ: FDRY) to Hold from Buy and lowered its target to $16.50 from $19.25 as they expect the Brocade (NASDAQ: BRCD) acquisition to close by year-end.
- Merrill downgraded Ericsson (NASDAQ: ERIC) to Underperform from Buy based on valuation and a potential pre-announcement from the Sony Ericsson JV.
- KeyBanc downgraded Pacer International (NASDAQ: PACR) to Underperform from Neutral based on softer-industry volumes and lower fuel prices that lag their fuel surcharge paid to underlying rail carriers.
- eTelecare Global (NASDAQ: ETEL) was cut to Neutral from Outperform at Baird.
- Fiat (OTC: FIATY) was lowered to Underweight from Overweight at Morgan Stanley.
- Jabil Circuit (NYSE: JBL) was downgraded at Citigroup to Sell from Hold.
Analyst initiations:
- Jefferies initiated Brocade (NASDAQ: BRCD) with a Hold rating and $3.50 target. The firm wants additional clarity on guidance post the Foundry (NASDAQ: FDRY) acquisition before becoming more positive on the stock.
- Morgan Keegan is positive on National Healthcare's (NYSE: NHC) balance sheet and focus on offering high-acuity short-stay services at their nursing homes. Shares were assumed with an Outperform rating.
- Cephalon (NASDAQ: CEPH) was initiated at Soleil with a Buy rating and $92 target. Soleil is positive on the company's diversified revenue base and growth drivers.
- Washington Reit (NYSE: WRE) was started with a Neutral at JP Morgan.
- Key Energy (NYSE: KEG) was initiated with a Neutral rating and $5.50 at UBS.
- Alexion Pharma (NASDAQ: ALXN) was initiated with an Overweight rating and $44 target at Thomas Weisel.
Tags: alxn, bll, brcd, ceph, eric, etel, fdry, fiaty, intc, jbl, keg, nhc, onxx, pacr, rtp, tef, via, via.b, wre
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