Analyst Calls: RIMM, NTRS, STT, UHS, POT, BCR, O, JCI, GPS, WMG

Posted Dec 18th 2009 10:00AM by Laurie Pasternack
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, International Business Machines (IBM), Research in Motion (RIMM), Gap Inc (GPS), BP p.l.c. ADS (BP), Analyst Initiations, Johnson Controls (JCI), Potash Corp. of Saskatchewan (POT), AOL (AOL)

Analyst Upgrades

Deutsche Bank upgraded Research in Motion (RIMM) to hold from sell to reflect the company's Q3 results and guidance. The firm raised its target price on shares to $75 from $60.
Keefe Bruyette upgraded Northern Trust (NTRS) and State Street (STT) to outperform from market perform to reflect valuation and favorable longer-term secular trends. The firm keeps a $58 price target on Northern Trust and a $51 target on State Street.
UBS upgraded Universal Health (UHS) to buy from neutral and raised its target to $38 from $31. The firm said hospital checks indicate bad debt has not increased vs. Q3 and that Universal Health should report an in-line to better-than-expected Q4.
Take-Two Interactive (TTWO) was upgraded to hold from sell at Kaufman Bros.
Whiting Petroleum (WLL) was raised to outperform from market perform at Wells Fargo.
BP Plc (BP) was upgraded at Goldman to buy from neutral.

Analyst Downgrades

Soleil downgraded Potash (POT) to sell from hold due to valuation and falling potash prices. The firm points out that price chatter on China is getting more negative, with talk now to $300 per tonne than to $400 per tonne. Soleil has an $85 price target on the stock.
Piper downgraded C.R. Bard (BCR) to underweight from neutral after the company lowered its earnings growth rate at its investor meeting. Piper lowered its target price on shares to $71 from $84.
Credit Suisse downgraded Realty Income (O) to neutral from outperform based on valuation and has a $37 target on the stock.
NetApp (NTAP) was cut to neutral from conviction buy at Goldman.
Williams Partners LP (WPZ) was downgraded to neutral from buy at BofA/Merrill.
AMB Property (AMB) was downgraded to sell from neutral at UBS.

Analyst Initiations

Kaufman Bros. initiated Johnson Controls (JCI) with a buy rating. The firm believes Johnson Controls' superior hybrid vehicle battery is being underappreciated by the market and its sum of parts analysis yields a $38 price target.
Pali Capital is not convinced the Gap (GPS) brand turnaround will generate meaningful topline trends. The firm started shares with a neutral rating.
Needham is positive on Warner Music's (WMG) digital growth opportunity. Shares were initiated with a buy rating and $7 target.
IBM (IBM) was initiated with an outperform rating and $155 target at Macquarie.
AOL (AOL) was initiated with a neutral rating and $27 target at Goldman.
Frontline (FRO) was initiated with a perform rating at Oppenheimer.

Tags: AMB, AMB Property, AOL, BCR, BP, BP Plc, C.R. Bard, FRO, Frontline, gap inc., GPS, IBM, inthenews, JCI, Johnson Controls, NetApp, Northern Trust, NTAP, NTRS, O, POT, Potash, Realty Income, research in motion, RIMM, State Street, STT, Take-Two Interactive, TTWO, UHS, Universal Health, UniversalHealth, Warner Music, Whiting Petroleum, WilliamsPartners, WLL, WMG, WPZ

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Reader Comments (Page 1 of 1)

12-21-2009 @ 11:24AM

sanrk said...

Chinese contract for 2010 for Potash is way-way lower compared to previous years, and Uzbekistan/ Belarus - several new producers are now entering in market.. Plus, they have huge pending inventory of Potash which they can not sell..

I think its target price should be around $86-87.

What you think?

regards, Naveen

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