Analyst upgrades:
- Janney Montgomery upgraded Adobe (ADBE) to buy from neutral on expectations for a strong CS5 product cycle in 2010. The firm raised its target on shares to $43 from $33.
- Kaufman Bros. upgraded Rackspace (RAX) to buy from hold to reflect the company's "strong" Q3 results and expectations growth will accelerate in 2010. The firm raised its target on shares to $22.50 from $16. Oppenheimer upgraded Rackspace to outperform from perform and established a $24 price target on the stock.
- Stephens upgraded Ann Taylor (ANN) to overweight from equal weight as it believes the company's core brand will recover faster than originally thought. The firm raised its target on shares to $17 from $12.
- Rockwell (ROK) was upgraded to neutral from underperform at Baird.
- Taiwan Semi (TSM) was raised to outperform from market perform at FBR Capital.
- Royal Bank of Scotland (RBS) was upgraded to buy from hold at Deutsche Bank.
Analyst downgrades:
- UBS downgraded Wynn Resorts (WYNN) to neutral from buy but raised its target to $66 from $54. The firm expects Las Vegas convention business to be weak in 2010 and for gaming revenues to be flat.
- FBR Capital downgraded Pike Electric (PIKE) to market perform from outperform following the company's lower-than-expected Q1 results. The firm cut its target on shares to $11 from $15. BB&T downgraded Pike Electric to hold from buy on the Q1 results and lack of visibility.
- Citigroup downgraded Energy Conversion (ENER) to sell from hold following the company's Q1 results to reflect cash burn and margin concerns. The firm lowered its target on shares to $7 from $12. JPMorgan also downgraded shares, to neutral from overweight, and has a $15 target on the stock.
- Coca-Cola Enterprises (CCE) was downgraded to buy from conviction buy at Goldman.
- GT Solar (SOLR) was downgraded to underweight from neutral at Piper Jaffray.
- Cbeyond (CBEY) was downgraded to underperform from sector perform at RBC Capital.
Analyst initiations:
- Wells Fargo initiated Talecris Biotherapeutics (TLCR) with an outperform rating. The firm believes that the company is poised to grow more than 8% annually and it is optimistic about the company's Alzheimer treatment.
- Regal Entertainment (RGC) was initiated with an overweight rating and $17 target at JPMorgan.
- CRA International (CRAI) was initiated with a neutral rating and $24 target at Janney Montgomery.
- UQM Technologies (UQM) was initiated with an overweight rating at Thomas Weisel.
- Annaly Capital (NLY) was initiated with a buy rating and $19 target at Jefferies.
- Walter Investment (WAC) was initiated with an outperform rating and $15 target at Credit Suisse.
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Reader Comments (Page 1 of 1)
11-10-2009 @ 12:36PM
John Mylant said...
Good rating on ADBE! Not only will their sales increase but they have had a healthy movement in the technical arena too! I like this stock moving up to its 2008 highs of 44,45. It has reached this level once in 2007 so it is very comfortable level. Great call on this one!
John Mylant
http://mylantsmoneyblog.typepad.com/
11-10-2009 @ 12:36PM
John Mylant said...
"Stephens upgraded Ann Taylor (ANN) to overweight from equal weight as it believes the company's core brand will recover faster than originally thought. The firm raised its target on shares to $17 from $12."
This is very good! I have noticed a "flag" forming on a long term weekly chart. It shows me that next year is going to possibly be a good year for growth for this company!
John Mylant