AnalystDowngrade posts
FeedPosted Jan 12th 2009 12:36PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Pfizer (PFE), Agilent Technologies (A), AutoZone Inc (AZO), Harley-Davidson (HOG), Analyst Initiations
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Analyst upgrades:
- Baird upgraded Agilent (NYSE:A) to Outperform from Neutral and raised its target to $24 from $22. The firm expects Agilent's YoY order declines to bottom in 1H09 and for growth to return in 1Q10.
- Despite downgrading the Equity REIT industry to Underweight from Market Weight, Friedman Billings upgraded Home Properties (NYSE:HME) to Outperform from Market Perform to reflect the company's exposure to Washington, D.C. The firm thinks Washington has the potential for stable demand fundamentals.
- Keefe Bruyette raised Education Realty (NYSE:EDR) to Outperform from Market Perform to reflect the company's improved liquidity outlook.
- Cullen/Frost (NYSE:CFR) was upgraded to Overweight from Equal Weight at Barclays.
- Pfizer (NYSE:PFE) was raised to Neutral from Sell at Goldman.
- FPIC Insurance (NASDAQ:FPIC) was lifted at Piper Jaffray to Buy from Neutral.
Analyst downgrades:
- Credit Suisse downgraded Deutsche Telekom (NYSE:DT) to Neutral from Outperform and France Telecom (NYSE:FTE) to Underperform from Neutral in conjunction with cutting the European Telecommunications Services sector to Market Weight from Overweight.
- Goldman downgraded Harley-Davidson (NYSE:HOG) to Sell from Neutral and added shares to its Conviction Sell List. The firm, which lowered its target to $11 from $30, said HOG shares do not fully reflect the impact from unprecedented headwinds in global luxury motorcycle demand and credit.
- Jefferies downgraded Precision Cast (NYSE:PCP) to Hold from Buy following the recent rally as they believe near-term EPS growth will be challenging. The firm lowered its target to $72 from $75.
- AutoZone (NYSE:AZO) was downgraded to Market Perform from Outperform at Bernstein.
- Tenneco (NYSE:TEN) was cut to Market Perform from Outperform at Wachovia.
- Burlington Northern (NYSE:BNI) was lowered to Underweight from Equal Weight at Morgan Stanley.
- Friedman Billings downgraded the Equity REIT sector to Underweight from Market Weight.
Analyst initiations:
- Ladenburg initiated Pentair (NYSE:PNR) with a Buy rating and $32 target. The firm believes the company's cost reduction and growth strategies will limit earnings declines from weak end markets.
- Fiat (Other OTC:FIATY) was initiated with a Hold rating at ING Group.
- Raymond James resumed coverage of Tailsman Energy (NYSE:TLM) with a Market Perform rating.
Posted Dec 31st 2008 12:15PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Analyst Initiations
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Analyst upgrades:
- Empire District Electric (NYSE:EDE) was upgraded to Buy from Hold at Jefferies on valuation. The firm raised its target to $18.50 from $16.
- Actividentity (NASDAQ:ACTI) was upgraded to Buy from Hold at Soleil and its target was increased to $3.25 from $2.50 on valuation.
- Merrill upgraded Phototronics (NASDAQ:PLAB) to Buy from Underperform citing cost reductions, the amended credit agreement, and expectations for growth after the January quarter.
Analyst downgrades:
- Roth Capital downgraded RTI Biologics (NASDAQ:RTIX) to Hold from Buy and lowered its target to $3 from $6 following its negative Q4 negative pre-announcement.
- Morgan Joseph said Ceradyne (NASDAQ:CRDN) will not ship any new X-SAPI body armor in Q4 due to a contract protest by a competitor. The Army has decided to seek new bids but CRDN management expects to win a similar order in late January with deliveries expected in late 1Q09. Shares were downgraded to Hold from Buy.
Analyst initiations:
- William Blair initiated Grand Canyon (NASDAQ:LOPE) with an Outperform rating. The firm believes the company has strong growth prospects amid a favorable industry backdrop.
- Keefe Bruyette resumed coverage of Assured Guaranty (NYSE:AGO) with a Market Perform rating and $12.50 target, citing financial guaranty market instability.
- Capital Source (NYSE:CSE) was reinstated with a Neutral rating at Credit Suisse.
- Yongye Biotechnology (OTC:YGYB) was initiated with a Buy rating and $3.50 target at Roth Capital.
Posted Dec 24th 2008 12:16PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Analyst Initiations
Analyst upgrades:
- CIBC upgraded Sunlife Financial (NYSE:SLF) to Sector Outperformer from Sector Performer.
ProLogis (NYSE:PLD) was raised to Outperform from Underperform at Wachovia.
Analyst downgrades:
- Friedman Billings downgraded shares of Cameco (NYSE:CCJ) to Market Perform from Outperform and lowered their target to $13 from $48 to reflect their lower uranium price outlook.
- B. Riley downgraded S&T Bancorp (NASDAQ:STBA) to Neutral from Buy on valuation and asset quality concerns.
- Gabelli downgraded KV Pharmaceutical (NYSE:KV.A) to Hold from Buy after the company said it was indefinitely suspending distribution of all tablet products due to manufacturing and quality assurance concerns.
- AMAG Pharma (NASDAQ:AMAG) was cut to Underperform from Neutral at Merrill Lynch.
Posted Dec 17th 2008 12:38PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Apple Inc (AAPL), Amazon.com (AMZN), American Express (AXP), Allegheny Technologies (ATI), Analyst Initiations
Analyst upgrades:
- UBS upgraded Kansas City Southern (NYSE:KSU) to Buy from Neutral and lowered its target to $26 from $35 citing valuation.
- Gabelli upgraded Media General (NYSE:MEG) to Hold from Sell because the firm thinks that Harbinger Capital has sold most of its shares in the company. As a result, the firm thinks the stock will be under less selling pressure.
- Eagle Bulk Shipping (NASDAQ:EGLE) was upgraded to Neutral from Underperform at Merrill Lynch.
- Centene (NYSE:CNC) was raised to Buy from Neutral at Goldman.
- Ralcorp (NYSE:RAH) was upgraded at Credit Suisse to Outperform from Neutral.
- Interpublic Group (NYSE:IPG) was upgraded to Equal Weight from Underweight at Morgan Stanley.
Analyst downgrades:
- Keefe Bruyette downgraded Healthcare Realty(NYSE:HR) to Market Perform from Outperform on concerns the company's development activity could be dilutive to near-term earnings.
- Citigroup downgraded Satyam (NYSE:SAY) to Sell from Buy as they believe the company's acquisition plans, and subsequent cancellation of the deals, will lessen investor confidence in the name.
- Oppenheimer downgraded Apple (NASDAQ:AAPL) to Perform from Outperform citing Steve Jobs cancellation of his annual key note speech at Macworld on January 6. The analyst said the unexpected announcement underscores Apple's long-term dependence on Job's health and its lack of succession plan.
- Baird downgraded Carlisle NYSE:CSL)to Neutral from Outperform.
- Gibraltar Industries (NASDAQ:ROCK) was downgraded at Piper Jaffray to Sell from Buy.
- NetApp (NASDAQ:NTAP) was cut to Accumulate from Buy at ThinkPanmure.
Analyst initiations:
- Citigroup believes the acquisition of Barr enhances Teva's (NASDAQ:TEVA) growth. The firm started shares with a Buy rating and $52 target.
- Suntrust initiated American Express (NYSE:AXP) with a Reduce citing slowing growth and greater-than-industry deterioration in credit quality.
- Roth Capital initiated The Buckle (NYSE:BKE) with a Hold rating and $17 target citing the deteriorating macro environment.
- Amazon.com (NASDAQ:AMZN) and Allegheny Tech (NYSE:ATI) were assumed with Neutral ratings and targets of $52 and $26, respectively, at UBS.
- Digital Realty (NYSE:DLR) was initiated at Piper Jaffray with a Buy rating.
- Mylan (NYSE:MYL) was started with an Overweight rating and $15 target at JP Morgan.
Posted Dec 4th 2008 1:28PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Amazon.com (AMZN), Schlumberger Limited (SLB), Red Hat Inc (RHT), Analyst Initiations, YRC Worldwide (YRCW), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RIO)
Analyst upgrades:
- Jefferies upgraded shares of Red Hat (NYSE:RHT) to Buy from Hold after their checks indicated Red Hat's November quarter results will be in-line due to solid Jboss sales. The firm also believes a potential new partnership with Cisco (NASDAQ:CSCO) could provide share upside.
- Barclays upgraded Amazon.com (NASDAQ:AMZN) to Overweight from Equal Weight as they believe the company's competitive position will strengthen during the current downturn and that the company will gain share.
- JP Morgan upgraded YRC Worldwide (NASDAQ:YRCW) to Neutral from Underweight following the announcement that the company and the Teamsters will vote on contract modifications.
- Del Monte Foods (NYSE:DLM) was raised to Overweight from Equal Weight at Stephens.
- Thomson Reuters (NYSE:TRI) was upgraded at Morgan Stanley to Equal Weight from Underweight.
- Reliant Energy (NYSE:RRI) was lifted to Outperform from Market Perform at Wachovia.
Analyst downgrades:
- B. Riley downgraded shares of Hot Topic (NASDAQ:HOTT) to Neutral from Buy to reflect a lack of visibility into 2009 and valuation but raised their target price to $9.30 from $8.20.
- Citigroup cut KLA-Tencor (NASDAQ:KLAC) to Hold from Buy to reflect their more offensive stance on the semi group as they view KLA-Tencor as a more defensive name. The firm lowered their target to $22 from $31.
- KeyBanc downgraded Arch Chemicals (NYSE:ARJ) to Underweight from Hold citing global economic headwinds, the stronger dollar, pension costs, and continued weakness in North American housing, among other reasons.
- Jo Ann Stores (NYSE:JAS) was cut to Hold from Buy at Soleil.
- Calyon downgraded Schlumberger (NYSE:SLB) to Outperform from Buy.
- Amdocs (NYSE:DOX) was downgraded to Neutral from Buy at Goldman.
Continue reading Analyst upgrades, downgrades and initiations: RHT, AMZN, DLM, BHP, RTP
Posted Nov 10th 2008 12:34PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, General Motors (GM), Coca-Cola Enterprises (CCE), Kimberly-Clark (KMB), Analyst Initiations, Freep't McMoRan Copper (FCX), Wells Fargo (WFC), Urban Outfitters (URBN)
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Analyst upgrades:
- Merriman upgraded Smith & Wesson (NASDAQ:SWHC) to Buy from Neutral on valuation after channel checks indicated an increase in gun sales in October after an Obama win became apparent. The firm believes shares can trade up into the $4 to $5 range.
- Credit Suisse upgraded Wells Fargo (NYSE:WFC) to Outperform from Neutral citing the company's improved balance and potential earnings power following its $11B equity offering.
- JP Morgan upgraded Coca-Cola Enerprises (NYSE:CCE) to Overweight from Neutral on valuation and easing commodity and labor costs.
- Manulife (NYSE:MFC) was raised to Outperform from Sector Perform at RBC Capital.
- SL Green Realty (NYSE:SLG) was upgraded at UBS to Buy from Neutral.
- Molina Healthcare (NYSE:MOH) was upgraded to Equal Weight from Underweight at Barclays.
Analyst downgrades:
- Barclays downgraded General Motors (NYSE:GM) to Underweight from Equal Weight on cash concerns and believes any assistance from the government would substantially dilute equity holders. Barclays set a $1 target on GM shares.
- Stephens cut LandAmerica (NYSE:LFG) to Underweight from Equal Weight following the Fidelity National (NYSE:FNF) takeover as they expect no other bidders to emerge and believe shares could go back to under $5 if Fidelity National walks away.
- Deutsche Bank downgraded solar companies to reflect deteriorating fundamentals in the sector, an adequate supply of c-Si modules, the strengthening dollar and restricted access to capital. First Solar (NASDAQ:FSLR), Canadian Solar (NASDAQ:CSIQ), Energy Conversion (NASDAQ:ENER) and Sunpower (NASDAQ:SPWRA) were downgraded to Hold from Buy.
- Urban Outfitters (NASDAQ:URBN) and Aeropostale (NYSE:ARO) were downgraded to Underweight from Equal Weight at Barclays.
- FMC Technologies (NYSE:FTI) was lowered to Underweight from Neutral at JP Morgan.
Analyst initiations:
- Freeport McMoRan, HLS Systems, and Kimberly Clark were today's noteworthy initiations:
- Banc of America expects Freeport McMoRan's (NYSE:FCX) earnings will decline sharply in 2009 and thinks the dividend could be at risk. Shares were initiated with a Neutral rating and $29 target.
- Roth Capital initiated HLS Systems (NASDAQ:HOLI) with a Buy rating and $5 target. The firm is positive on the company's management team and the company's outlook for EPS growth.
- Citigroup thinks Kimberly Clark's (NYSE:KMB) margins have bottomed and that the current valuation is too low. Shares were assumed with a Buy rating and $65 target.
- Synaptics (NASDAQ:SYNA) and Intercontinental Exchange (NYSE:ICE) were initiated at Merrill Lynch with Neutral ratings.
- Tim Hortons (NYSE:THI) was assumed with a Sell rating at Goldman.
Posted Nov 3rd 2008 12:24PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Boeing Co (BA), D.R.Horton (DHI), Analyst Initiations
Analyst upgrades:
- Stephens upgraded shares of Ann Taylor (NYSE: ANN) to Overweight from Equal Weight to reflect the company's restructuring program, reductions in inventory and share repurchase program.
- AIMCO (NYSE: AIV) was upgraded to Buy from Hold at Deutsche Bank.
- UBS upgraded D.R. Horton (NYSE: DHI) to Neutral from Sell.
- Argus believes BigBand Networks (NASDAQ: BBND) is succeeding by adding new customers and driving new business with existing customers. Shares were upgraded to Buy from Hold.
- ThinkPanmure expects Capella Education (NASDAQ: CPLA) to attract students at a faster rate in the coming quarters and to improve operating margins. The firm raised shares to Buy from Accumulate and raised its target to $60 from $62.
- Advanced Medical (NYSE:EYE) was lifted to Hold from Underperform at Jefferies.
Analyst downgrades: Continue reading Analyst calls: ANN, AIV, DHI, BA, BT, LINTA, B, WW ...
Posted Oct 29th 2008 2:00PM by Melly Alazraki (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Johnson and Johnson (JNJ)
Johnson & Johnson (NYSE:
JNJ) was
downgraded by JP Morgan from Overweight to Neutral. While Michael Weinstein, the JP Morgan analyst, makes a good case, I can't help but questioning the call, having been such a
big fan of the company for so long.
J&J has been one of the best performers this past difficult year. While the S&P 500 declined 36% year-to-date, and the Dow Jones Industrial Average (of which J&J is a component) declined nearly 32% YTD, JNJ declined only 8% YTD. Over the past year, JNJ's performance is even more remarkable, with a 5.6% decline compared with the S&P's 39% and the Dow's 34.6%.
J&J has been hailed as a defensive stock -- "
a super stock. Well managed, great earnings, good pipeline," the world's most
respected company, "a drug company and
so much more." And these are just from BloggingStocks contributors. So what's this analyst's beef?
Continue reading Johnson & Johnson (JNJ) downgraded - really?
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