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Analyst upgrades, downgrades and initiations: CBRL, GAME, LO, NKE, RAIL, TGT, WMT ...

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Analyst upgrades:

  • Kaufman Bros. upgraded American Superconductor (NASDAQ: AMSC) to Buy from Hold as it believes the follow-on contract from Sinovel has positive implications. The firm has a $36 price target on shares.
  • Goldman upgraded Nike (NYSE: NKE) to Buy from Neutral citing valuation, visible long-term growth, and signs of sales stabilization. The firm has a $75 target on shares.
  • Deutsche Bank upgraded Huntington Bancshares (NASDAQ: HBAN) to Buy from Hold on valuation following the recent underperformance. The firm raised its target on shares to $5.50 from $4.
  • Novartis (NYSE: NVS) was upgraded to Buy from Hold at Citigroup.
  • eHealth (NASDAQ: EHTH) was upgraded to Buy from Accumulate at ThinkEquity.
  • China Precision Steel (NASDAQ: CPSL) was upgraded to Hold from Sell at Roth Capital.

Analyst downgrades:

  • UBS downgraded Target (NYSE: TGT) to Neutral from Buy. The firm downgraded shares based on valuation and concerns regarding the change in consumer spending and its impact on the company's recovery.
  • KeyBanc downgraded FreightCar America (NASDAQ: RAIL) to Hold from Buy based on valuation, earnings visibility, and political headwinds.
  • Citigroup downgraded Global Crossing (NASDAQ: GLBC) to Hold from Buy on valuation following the recent rally and maintains a $16 price target on the stock.
  • Greenhill & Co. (NYSE: GHL) was downgraded to Neutral from Buy at Pali Capital.
  • Bayer (OTC: BAYRY) was downgraded to Neutral from Buy at UBS.
  • National Penn Bancshares (NASDAQ: NPBC) was downgraded to Neutral from Buy at FTN Equity.

Analyst initiations:

  • Deutsche Bank recommends owning Lorillard (NYSE: LO) for its Newport brand and cash flow generation. The firm started shares with a Buy rating and $83 target.
  • Wells Fargo initiated Cracker Barrel (NASDAQ: CBRL) with an Outperform rating. The firm believes that Cracker Barrel is poised to exploit its brand, while its productivity initiatives appear to be working.
  • Pali Capital started Shanda Games (NASDAQ: GAME) with a Buy rating and $15 target. Pali believes concerns surrounding Shanda Games' short-term growth are overblown and that the company is well positioned for sustainable long-term growth.
  • Boston Scientific (NYSE: BSX) and Medtronic (NYSE: MDT) were initiated with Neutral ratings at Goldman.
  • Wal-Mart (NYSE: WMT) was initiated with a Market Perform rating and $58 target at Bernstein.
  • Alliance Data Systems (NYSE: ADS) was initiated with an Outperform rating and $75 target at Keefe Bruyette.

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Symbol Lookup
IndexesChangePrice
DJIA-14.2810,318.16
NASDAQ-10.782,146.04
S&P 500-3.521,091.38

Last updated: November 22, 2009: 05:42 AM

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