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Analyst upgrades: SIRI, RSH, MHP, IBKC, BOOM and BRL

MOST NOTEWORTHY: IberiaBank, Dynamic Materials and Barr Pharmaceuticals were today's noteworthy upgrades:
  • Keefe Bruyette upgraded shares of IberiaBank (NASDAQ: IBKC) to Market Perform from Underperform after the company announced that Pulaski has assumed the insured deposits of ANB Financial of Bentonville, Arkansas.
  • KeyBanc upgraded Dynamic Materials (NASDAQ: BOOM) to Buy from Hold citing stability in base business, valuation, and the added benefit associated with a European competitor being acquired.
  • Cowen raised Barr Pharma (NYSE: BRL) to Outperform from Neutral citing the recent pullback.
OTHER UPGRADES:
  • Goldman added McGraw-Hill (NASDAQ: MHP) to its Conviction Buy List.
  • RBC Capital raised RadioShack (NYSE: RSH) to Sector Perform from Underperform.
  • Sirius Satellite (NASDAQ: SIRI) was upgraded at Merrill Lynch to Neutral from Sell.

Analyst downgrades: BOOM, AGN and JAVA

MOST NOTEWORTHY: Dynamic Materials, Allergan and Sun Micro were among today's noteworthy downgrades:
  • Dynamic Materials (NASDAQ: BOOM) was downgraded to Neutral from Overweight at J.P. Morgan following the Q1 report based on margin risk from steel costs and availability.
  • Allergan (NYSE: AGN) was downgraded to Hold from Buy at Jefferies ahead of the Q1 report on May 7 based on potential deceleration in Botox and breast implants, which could result in multiple contractions.
  • Sun Microsystems (NASDAQ: JAVA) was downgraded to Peer Perform from Outperform at Bear, citing the disappointing earnings report for the downgrade.
OTHER DOWNGRADES:
  • ManTech (NASDAQ: MANT) was downgraded to Neutral from Outperform at Cowen based on valuation and expectations for decelerating growth in 2H08.
  • Silver State Bancorp (NASDAQ: SSBX) was downgraded to Sell from Hold at Sandler O'Neil.

Analyst downgrades: JLL, DRIV, BOOM, ALLT and OXM

MOST NOTEWORTHY: Jones Lang LaSalle, Digital River, Dynamic Materials, Allot Communications and Oxford Industries were today's noteworthy downgrades:
  • Wachovia downgraded shares of Jones Lang LaSalle (NYSE: JLL) to Market Perform from Outperform, as they expect the deterioration in the credit markets to lead to fewer closed deals over the next year.
  • Oppenheimer transitioned coverage of Digital River (NASDAQ: DRIV) and downgraded shares to Neutral from Buy. The broker finds shares fairly valued given the pricing pressure and customer concentration.
  • Jefferies downgraded shares of Dynamic Materials Corporation (NASDAQ: BOOM) to Hold from Buy on valuation as they believe shares are already pricing in the company's near-term earnings potential.
  • Allot Communications (NASDAQ: ALLT) was downgraded to Sector Performer from Outperformer at CIBC World Markets after the company pre-announced weaker-than-expected Q3 results.
  • Oxford Industries (NYSE: OXM) was downgraded to Hold from Buy at Morgan Joseph and to Neutral from Buy at SunTrust following the disappointing Q1 report and guidance.
OTHER DOWNGRADES:

Symbol Lookup
IndexesChangePrice
DJIA+20.3310,454.04
NASDAQ+4.302,173.48
S&P 500+2.771,108.42

Last updated: November 25, 2009: 12:49 PM

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