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Analyst upgrades, downgrades and initiations: ANF, CAJ, CTCM, MOV, MV, VMED ...

Posted Sep 4th 2009 10:50AM by Eric BuscemiEric Buscemi RSS Feed
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations

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Analyst upgrades:

  • Goldman upgraded CTC Media (NASDAQ: CTCM) to Buy from Neutral on a better outlook for European Media names and raised its target on shares to $17.60 from $12.
  • Morgan Joseph upgraded Movado (NYSE: MOV) to Buy from Hold after the company reported better-than-expected Q2 results. The firm set a $16 target on the stock.
  • Needham upgraded LTX Credence (NASDAQ: LTXC) to Strong Buy from Hold following the company's Q4 results with a $3 price target.
  • Canon (NYSE: CAJ) was upgraded to Outperform from Underperform at Macquarie.
  • Whitney Holding (NASDAQ: WTNY) was upgraded to Buy from Neutral at SunTrust.
  • Gafisa SA (NYSE: GFA) was upgraded to Overweight from Equal Weight at Morgan Stanley.

Analyst downgrades:

  • Citigroup downgraded Abercrombie & Fitch (NYSE: ANF) to Sell from Hold on expectations that deteriorating same-store sales will continue and negative earnings revisions are likely. The firm lowered its target on shares to $24 from $33.
  • Baird downgraded Array Biopharma (NASDAQ: ARRY) to Neutral from Outperform following ARRY-162 failure in the Phase II RA trial. The firm cut its target to $3 from $10.
  • Baird also downgraded Metavante (NYSE: MV) to Neutral from Outperform citing the merger with Fidelity National Information Services (NYSE: FIS).
  • Zumiez (NASDAQ: ZUMZ) was downgraded to Hold from Buy at KeyBanc.
  • Shire (NASDAQ: SHPGY) was downgraded to Hold from Buy at Societe Generale.
  • Pearson (NYSE: PSO) was cut to Conviction Sell from Neutral at Goldman.

Analyst initiations:

  • Global Hunter believes Genoptix (NASDAQ: GXDX) is positioned to rapidly grow its diagnostic testing services in the community-based physician market. The firm started shares with a Buy rating and $41 target.
  • Virgin Media (NASDAQ: VMED) was assumed with an Outperform rating and $15 target at Credit Suisse.
  • MSC Industrial (NYSE: MSM) was initiated with an Outperform rating at Raymond James.
  • Thoratec (NASDAQ: THOR) was started at Baird with a Neutral rating and $28 target.
  • United Bankshares (NASDAQ: UBSI) was initiated with a Hold rating at Stifel Nicolaus.

Tags: analyst upgrades, ANF, ARRY, CAJ, CTCM, downgrades, FIS, GFA, initiations, LTXC, MOV, MV, PSO, SHPGY, WTNY, ZUMZ

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Last updated: November 26, 2009: 06:19 AM

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