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Analyst upgrades and downgrades: AF, SUN, SOL ...

Posted Jan 2nd 2009 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations

Analyst upgrades:
  • JP Morgan upgraded Astoria Financial (NYSE: AF) to Neutral from Underweight on valuation as it finds the stock fairly valued at current levels.
  • Seagate Technology (NASDAQ: STX) was upgraded to Neutral from Sell at American Technology.

Analyst downgrades:
  • Soleil downgraded Sunoco (NYSE: SUN) to Hold from Buy on valuation following the recent rally and is concerned about rising distillate inventories on the East Coast.
  • Deutsche Bank downgraded MedCath (NASDAQ: MDTH) to Hold from Buy and lowered its target to $12.50 from $14 as it believes FY09 consensus estimates remain too high.
  • Piper Jaffray downgraded ReneSola (NYSE: SOL) to Neutral from Buy and Canadian Solar (NASDAQ: CSIQ) to Sell from Neutral.
  • LHC Group (NASDAQ: LHCG) was cut to Hold from Buy at Deutsche Bank.

Newspaper wrap-up: When a troubled home loan is not

Posted Jun 19th 2008 8:00AM by Laurie Pasternack (RSS feed)
Filed under: Newspapers, Magazines, Hewlett-Packard (HPQ), JPMorgan Chase (JPM), ,

MAJOR PAPERS:
  • Long Island, NY's Astoria Financial Corp (NYSE: AF) has found a novel way to reduce the number of its nonperforming loans by changing its internal policy on when mortgages are classified on its books as troubled, the Wall Street Journal reported. By counting home loans as non performing when the borrower misses at least three payments, not two, Astoria reduced its non-performers to $69M from $106M in three months.
  • The Wall Street Journal also reported that the indictments of Matthew Tannin and Ralph Cioffi, two former Bear Stearns hedge-fund managers, are expected to cite a personal e-mail suggesting the funds were "toast," four days before they told investors they had little to worry about. JP Morgan Chase & Co (NYSE: JPM) has said it will cover the legal costs of the fund managers.
  • Hewlett-Packard Company (NYSE: HPQ) is set to reorganize its printer unit. The Wall Street Journal said that the unit's five business units will be cut down to three to become more efficient at adapting to a marketplace in which consumers are relying less on printing.
  • According to people close to the situation, the Financial Times reported that Anheuser-Busch Companies Inc's (NYSE: BUD) board of directors is planning to meet this week to discuss the $46B bid from rival brewer InBev.

Symbol Lookup
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DJIA+30.6910,464.40
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S&P 500+4.981,110.63

Last updated: November 27, 2009: 05:41 AM

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