Analyst upgrades:
- Keefe Bruyette upgraded Popular (NASDAQ: BPOP) to Outperform from Market Perform as it believes the issuance of new common stock in exchange for outstanding preferred and trust preferred stock is a net positive. The firm has a $3.50 target on the stock.
- Merriman upgraded Super Micro Computer (NASDAQ: SMCI) to Buy from Neutral as if finds the currrent valuation compelling and believes the company should directly benefit from improving IT budgets. The firm thinks fair value is in the $9.11-$11.13 range.
- Kaufman Bros. upgraded Netflix (NASDAQ: NFLX) to Buy from Hold after its proprietary survey indicated the company is well positioned longer term. The firm finds the valuation on shares attractive at current levels and raised its target price to $53 from $48.
- Taleo (NASDAQ: TLEO) was upgraded to Buy from Neutral at Janney Montgomery.
- Boardwalk Pipeline (BWP) was upgraded to Neutral from Underperform at BofA/Merrill.
- Lloyds Banking (NYSE: LYG) was upgraded to Buy from Hold at RBS.
Analyst downgrades:
- Goldman downgraded Alcoa (NYSE: AA) to Neutral from Buy citing valuation and rising aluminum inventories. The firm recommends Conviction Buy rated Freeport McMoRan (NYSE: FCX) given their favorable view on copper. Alcoa's price target is $13.
- Janney Montgomery downgraded First Industrial Realty Trust (NYSE: FR) to Sell from Neutral following a change to its valuation method. The firm lowered its target on shares to $2.75 from $5.
- Credit Suisse downgraded CIGNA (NYSE: CI) to Neutral from Outperform based on relative valuation, competitive position, and lack of capital flexibility, among other reasons. The firm has a $32 target on the stock.
- MedAssets (NASDAQ: MDAS) was downgraded to Neutral from Buy at UBS.
- Seacoast Banking (NASDAQ: SBCF) was downgraded to Market Perform from Outperform at Keefe Bruyette.
- Robert Half (NYSE: RHI) was downgraded to Sell from Hold at Deutsche Bank.
Analyst initiations:
- Janney Montgomery expects Disney (NYSE: DIS) to benefit from emerging digital initiatives, DVR advertising, new market opportunities, and changes in distribution windows that will negate new technology threats. The firm has a Buy rating and $30 target on the stock.
- Jefferies believes Kulicke & Soffa (NASDAQ: KLIC) is gaining market share with new products for LED semis production. The firm started shares with a Buy rating and $6.20 target.
- Wells Fargo initiated Tenet Healthcare (NYSE: THC) with a Market Perform rating citing concerns regarding EBITDA growth.
- Ross Stores (NASDAQ: ROST) was initiated with an Outperform rating at Cowen.
- Gap (NYSE: GPS) was initiated with a Sector Perform rating at RBC Capital.
- BioDelivery Sciences (NASDAQ: BDSI) was initiated with an Outperform rating and $7 target at Baird.
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Reader Comments (Page 1 of 1)
8-19-2009 @ 12:15PM
Norah said...
CIGNA has outperformed and practically doubled in less than 12 months. I am convinced it is the same "analysts" that helped get us into this economic "soup" that contribute to the upset by sitting on their respective arses, digitizing thier heads and seriously affecting good stocks with thier "crystal balls" projections. I was thrilled yesterday when CIGNA topped $30.00 and continued to climb..then along comes Credit Suisse who by thier own projections were/are in their own soup having the utter "crystal balls" to downgrade a healthy and promising investment and stop it in it's tracks...I say use your own head and damn the "analysts" .. they are not worth the media, print or your time.