.gif){kind=logo}
Analyst upgrades:- Piper upgraded shares of Palm (NASDAQ: PALM) to Buy from Neutral following the company's negative Q3 pre-announcement as it believes the launch of Pre will drive longer term profitability. Piper raised its target price on shares to $10 from $4.
- Jefferies upgraded Monotype Imaging (NASDAQ: TYPE) to Buy from Hold as it believes the valuation is compelling at current levels and the company's debt is manageable. Despite upgrading, Jefferies lowered its target price to $4 from $6.
- Citigroup raised Arcelor Mittal (NYSE: MT) to Hold from Sell as it believes the company's productions cuts and lower dividends are positive.
- Celanese (NYSE: CE) was upgraded to Buy from Neutral at Goldman and added to the firm's Conviction Buy List.
- Aegon (NYSE: AEG) was lifted at UBS to Neutral from Sell.
- Sun Healthcare (NASDAQ: SUNH) was upgraded at Stephens to Overweight from Equal Weight.
Analyst downgrades:
- Jesup & Lamont downgraded ManTech (NASDAQ: MANT) to Hold from Buy to reflect uncertainty following the departure of the company's COO and president.
- KeyBanc downgraded MGM Mirage (NYSE: MGM) to Hold from Buy citing uncertainty regarding its current capital structure.
- Wachovia downgraded Edison International (NYSE: EIX) to Market Perform from Outperform because of what it sees as increased uncertainty related to the company's carbon exposure, its lack of hedging for the short term, and its pending rate case in California.
- Goldman cut Lan Airlines (NYSE: LFL) to Neutral from Buy.
- PEPCO Holdings (NYSE: POM) was downgraded to Market Perform from Outperform at Wachovia and to Equal Weight from Overweight at Barclays.
- Jefferies believes Foster Wheeler (NASDAQ: FWLT) has strong franchise value and finds the stock oversold at current levels. The firm started shares with a Buy rating and $20 target.
- Keefe Bruyette initiated DCT Industrial (NYSE: DCT) with a Market Perform rating and $3.50 target and believes headwinds for the industrial sector will likely limit near-term upside.
- Sunpower (NASDAQ: SPWRA) was assumed with a Neutral rating at Banc of America/Merrill.
- Capital One (NYSE: COF) coverage was resumed at Credit Suisse with a Neutral rating.
- FMC Technologies (NYSE: FTI) was assumed with an Overweight rating at HSBC.
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
Will Rich Ross really have a positive impact on Disney's movie operations?
