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Analyst upgrades: KND, FVE, EXBD, DECK and DFS

MOST NOTEWORTHY: Kindred Healthcare, Five Star Quality, Corporate Executive Board, Deckers Outdoor and Discover were today's noteworthy upgrades:
  • Jefferies upgraded shares of Kindred Healthcare Inc (NYSE: KND) to Buy from Hold on valuation as they believe the risk/reward is attractive given good near-term earnings visibility and reasonable prospects for legislation to remove a significant reimbursement overhang.
  • The firm also upgraded Five Star Quality Inc (AMEX: FVE) to Buy from Hold following a meeting with management, to reflect the company's improving occupancy and better cost controls.
  • Deutsche Bank upgraded shares of The Corporate Executive Board Company (NASDAQ: EXBD) to Buy from Hold as they believe the company is positioned for strong growth in 2008.
  • Nollenberger upgraded shares of Deckers Outdoor Corporation (NASDAQ: DECK) to Buy from Neutral, as they believe the UGG brand will continue to outperform expectations both domestically and internationally.
  • Discover Financial Services LLC (NYSE: DFS) was upgraded to Buy from Neutral at Calyon on valuation.
OTHER UPGRADES:

Analyst initiations: ENP, EXBD, FCN and GLDD

MOST NOTEWORTHY: Encore Energy, Corporate Executive Board, FTI Consulting and Great Lakes Dredge were today's noteworthy initiations:
  • Stanford believes shares of Encore Energy Partners LP (NYSE: ENP) are reasonably valued, and started shares with a Hold rating and $20.50 target.
  • The Corporate Executive Board Company (NASDAQ: EXBD) was initiated with a Neutral at Baird, as they have concerns regarding the slowing economy near-term.
  • Baird also started shares of FTI Consulting Inc (NYSE: FCN) with an Outperform rating and a $64 target, as they believe the company is well-positioned for continued strong growth driven by positive macro demand and specific company drivers.
  • Banc of America initiated Great Lakes Dredge and Dock Corporation (NASDAQ: GLDD) with a Neutral rating and $10 target. The firm believes near-term visibility is closed by an unsettled Army Corps/domestic funding policy and is looking for a more attractive valuation.
OTHER INITIATIONS:

Analyst initiations 6-15-07: CQB, DISH, DTV and RTEC

MOST NOTEWORTHY: Rudolph Technologies, Inc (RTEC), DirecTV Group, Inc (DTV), EchoStar Communications (DISH) and Legacy Reserves LP (LGCY) were today's more noteworthy initiations:
  • AG Edwards started Rudolph Technologies, Inc (NASDAQ: RTEC) with a Buy rating, believing Rudolph's acquisition of August Technologies created additional market opportunities and recommends investors to build positions at these levels to participate in future growth.
  • Stifel initiated DirecTV Group, Inc (NYSE: DTV) with a Buy rating and $28 target and EchoStar Communications (NASDAQ: DISH) with a Hold rating and $45 target. The firm prefers DirectTV to EchoStar given DirectTV's faster growing Latin America division, coming HD advantage, and greater likelihood of buybacks and views a merger between DISH & DTV as possible longer-term.
  • Legacy Reserves (NASDAQ: LGCY) was started with a Buy rating at Oppenheimer, expecting Legacy to grow through acquisitions.
OTHER INITIATIONS: Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 12, 2012: 07:33 PM

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