Analyst upgrades: - UBS upgraded STMicroelectronics (NYSE: STM) to Neutral from Sell and Advanced Semiconductor (NYSE: ASX) to Buy from Neutral as it is seeing early signs of stabilization in the semiconductor industry.
- Jefferies upgraded VCA Antech (NASDAQ: WOOF) to Hold from Underperform as it does not see significant downside in the stock given the low expectations. It raised its target price to $22 from $15.
- Baird upgraded Sigma Designs (NASDAQ: SIGM) to Outperform from Neutral and raised its target to $16 from $9 as it expects revenue growth to resume in 2009 driven by IPTV end-demand.
- Goldman removed Dell (NASDAQ: DELL) from the Conviction Sell List.
- Portfolio Recovery (NASDAQ: PRAA) was raised to Market Perform from Underperform at Keefe Bruyette.
- Post Properties (NYSE: PPS) was upgraded at Deutsche Bank to Hold from Sell.
Analyst downgrades:
- Jefferies downgraded NovaMed (NASDAQ: NOVA) to Hold from Buy to reflect the company's negative SSS growth in Q4 and lack of earnings visibility. The firm lowered its target price to $3 from $4.50.
- After Eagle Bulk Shipping (NASDAQ: EGLE) announced a number of new charters, Cantor Fitzgerald downgraded the stock to Sell from Hold due to what it sees as the company's high level of debt and reduced profitability in a tough environment for the dry bulk industry. The firm dropped its target to $4 from $6.
- Goldman added Sun Microsystems (NASDAQ: JAVA) to the Conviction Sell List.
- The firm also downgraded Nvidia (NASDAQ: NVDA) to Neutral from Buy.
- Borg-Warner (NYSE: BWA) was downgraded to Underperform from Neutral at Baird.
- Oppenehimer initiated Intrepid Potash (NYSE: POT) and Terra Industries (NYSE: TRA) with Perform ratings. The firm thinks the current domestic fertilizer market is frozen and would wait for stronger underlying industry fundamentals to get into the names.
- Wunderlich assumed Dolby Laboratories (NYSE: DLB) with a Hold rating and $32 target and believes the company's core customer base, consumer electronics companies, are facing near-term weakness.
- Credit Suisse initiated Palm (NASDAQ: PALM) with an Outperform and $11 target. The analyst believes Palm is on the cusp of a meaningful product cycle that could nearly double unit volumes and revenues over the next two years..
- Rangold Resources (NASDAQ: GOLD) was initiated at Thomas Weisel with a Market Weight rating and $47 target.
- Marvell Tech (NASDAQ: MRVL) was initiated with a Buy rating at ThinkEquity.
- Choice Hotels (NYSE: CHH) was assumed with an Overweight rating at Morgan Stanley.
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Reader Comments (Page 1 of 1)
2-13-2009 @ 12:03PM
MatWith1T said...
Intrepid Potash and POT are 2 different companies...