Analyst upgrades, downgrades and initiations: AAP, AXP, BRCD, DD, H, KSS, NYB, SI ...


Analyst Upgrades

  • FBR Capital upgraded New York Community Bancorp (NYB) to outperform from market perform following the FDIC-assisted acquisition of AmTrust. The firm raised its target price on shares to $16 from $11.
  • Oppenheimer upgraded Brocade (BRCD) to outperform from perform to reflect valuation, low investor expectations, and the company's potential to gain market share in IP/Ethernet switching. The firm set a target price of $8.50 on shares.
  • Stifel Nicolaus upgraded National Health Investors (NHI) to buy from hold following the announcement that the litigation vs. Care Foundation has been dismissed. The firm has a $37 target on the stock.
  • American Express (AXP) was upgraded to neutral from underperform at BofA/Merrill.
  • ACE Ltd. (ACE) was upgraded to buy from neutral at Goldman.
  • Kohl's (KSS) was raised to outperform from neutral at Baird.

Analyst Downgrades

  • Goldman downgraded the insurance brokerage sector to neutral from attractive. Marsh & McLennan (MMC) was downgraded to neutral from buy, citing relative valuation. Note that ACE Ltd. was upgraded to buy from neutral.
  • Credit Suisse downgraded DuPont (DD) to neutral from outperform. The firm, which lowered its target to $31 from $36, cites valuation and the delayed launch of Optimum GAT for the downgrade.
  • FBR Capital downgraded Advance Auto Parts (AAP) to underperform from market perform due to concerns about the company's 2010 earnings outlook. The firm has a $36 price target on shares.
  • Coventry Health (CVH) was cut to market perform from outperform at Wells Fargo.
  • Siemens (SI) was downgraded to equal weight from overweight at Morgan Stanley.
  • Anglo American (AAUK) was downgraded to underperform from sector perform at RBC Capital.

Analyst Initiations

  • Oppenheimer started Addus HomeCare (ADUS) with an outperform rating and $12 target. The firm finds growth opportunities in the homecare industry compelling.
  • Vitamin Shoppe (VSI) was initiated with an overweight rating and $23 target at JPMorgan, with a buy rating and $23 target at BofA/Merrill, with an overweight rating and $25 target at Barclays and with an overweight rating and $24 target at Piper Jaffray.
  • Hyatt Hotels (H) was assumed with a market perform rating and $31 target at Keefe Bruyette.
  • Echelon (ELON) and Itron (ITRI) were initiated with hold ratings at ThinkEquity.
  • EnerNOC (ENOC) coverage was assumed with an outperform rating and $33 target at Credit Suisse.
Symbol Lookup
IndexesChangePrice
DJIA+127.8310,447.93
NASDAQ+33.742,233.75
S&P 500+14.411,104.51

Last updated: September 05, 2010: 11:14 PM

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