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Analyst upgrades, downgrades and initiations: MU, DRIV, HELE, URBN, AKS...

Posted Jan 7th 2009 11:58AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Analyst Initiations, Urban Outfitters (URBN)

Analyst upgrades:

Oppenheimer upgraded OceanFreight (NASDAQ:OCNF) to Perform from Underperform on valuation and a lack of negative catalysts following the recent weakness.
UBS raised Micron (NYSE:MU) to Buy from Neutral citing supply cuts which should improve prices. The target remains $5.
Jesup & Lamont upgraded Atlas Air (NASDAQ:AAWW) to Buy from Hold is positive on the company's 20 year blocked space agreement with DHL and expects the stock to continue higher.
AK Steel (NYSE:AKS) was added to Goldman's Conviction Buy List and upgraded to Buy from Neutral.
Goldman also upgraded Northern Trust (NASDAQ:NTRS) to Buy from Neutral.
Digital River (NASDAQ:DRIV) was upgraded to Hold from Sell at Stanford.

Analyst downgrades:

Stephens downgraded shares of Titan Machinery (NASDAQ:TITN) after their survey of farmers indicated declining sales of agricultural equipment. The firm lowered their target to $19 but believes Titan Machinery's long-term growth story remains intact.
Jefferies downgraded Helen of Troy (NASDAQ:HELE) and Blyth (NYSE:BTH) to Underperform from Hold as they believe the further deterioration in the U.S. consumer macro environment could pressure near-term results. The firm lowered its target on Helen of Troy to $13 from $16.50 and on Blyth to $5.50 from $8.
UBS cut Indevus (NASDAQ:IDEV) to Neutral from Buy and lowered its target to $5.50 from $5 following the acquisition offer by Endo Pharmaceuticals (NASDAQ:ENDP).
AECOM Tech (NYSE:ACM) was lowered to Equal Weight from Overweight at Morgan Stanley.
Amerisafe (NYSE:AMSF) was downgraded at Oppenheimer to Perform from Outperform.
Tractor Supply (NASDAQ:TSCO) was cut to Neutral from Buy at Piper Jaffray.

Analyst initiations:

KeyBanc initiated Urban Outfitters (NASDAQ:URBN) with a Buy rating and $22 target. The firm believes the Urban Outfitters and Antropologie divisions are under penetrated and have visible growth.
Kaufman Bros. started SuccessFactors (NASDAQ:SFSF) with a Hold rating and $7 target and believes the current demand backdrop could be worse than reflected in current consensus estimates.
CarMax (NASDAQ:KMX) was initiated at Baird with a Neutral rating and $10 target. The firm is impressed with CarMax's business model but does not see a way around the near-term economic headwinds.
Manulife Financial (NYSE:MFC) and Sunlife Financial (NYSE:SLF) were assumed with Equal Weight ratings at Morgan Stanley.
Oppenheimer started Pacific Sunwear (NASDAQ:PSUN) with a Perform rating.
Kite Realty Trust (NYSE:KRG) was initiated with a Buy rating at Janney Montgomery.

Market highlights for the week: ORCL, RIMM and PALM to report earnings

Posted Jun 20th 2008 1:15PM by Eric Buscemi (RSS feed)
Filed under: Earnings Reports, Forecasts, Conventions and Conferences, Annual Meetings, Walgreen Co (WAG), Johnson and Johnson (JNJ), Research in Motion (RIMM), NIKE, Inc'B' (NKE), Oracle Corp (ORCL), Palm Inc (PALM), Lilly (Eli) (LLY), Federal Reserve

Monday, June 23

Walgreens (NYSE: WAG) to report Q3 earnings; conference call at 8:30am.

Tuesday, June 24

FOMC to hold two-day meeting.
Jabil Circuits (NYSE: JBL) to report Q3 earnings; conference call at 4:30pm.
3Com (NASDAQ: COMS) to report Q4 earnings; conference call at 5:00pm.

Wednesday, June 25

Second day of two-day FOMC meeting; announcement at 2:15pm.
Thornburg Mortgage (NYSE: TMA) to discuss valuation and accounting for recent financing transaction at 10:00am.
Nike (NYSE: NKE) to report Q4 earnings; conference call at 5:00pm.
Oracle (NASDAQ: ORCL) to report Q4 earnings; conference call at 5:00pm.
Research in Motion (NASDAQ: RIMM) to report Q1 earnings; conference call at 5:00pm.

Thursday, June 26

PDUFA date for Eli Lilly & Co's (NYSE: LLY) and Daiichi Sankyo's new drug application for Prasugrel.
Palm Inc (NASDAQ: PALM) to report Q4 earnings; conference call at 4:30pm.
Micron Technology (NYSE: MU) to report Q3 earnings; conference call at 4:30pm.

Friday, June 27

PDUFA date for Indevus Pharmaceuticals' (NASDAQ: IDEV) New Drug Application for Nebido for treatment of male hypogonadism.
PDUFA date for Johnson & Johnson's (NYSE: JNJ) and Eisai Co's (OTC: ESALY) Aciphex.

Market highlights for next week: Home Depot (HD), Macy's (M) to report

Posted Aug 10th 2007 4:15PM by Eric Buscemi (RSS feed)
Filed under: Earnings Reports, Conventions and Conferences, Hewlett-Packard (HPQ), Home Depot (HD), Penney (J.C.) (JCP), QUALCOMM Inc (QCOM), Broadcom Corp'A' (BRCM)

Monday August 13

Sysco Corporation (NYSE: SYY) to report Q4 earnings; conference call at 9:45am.
PDUFA date for Indevus Pharmaceuticals Inc's (NASDAQ: IDEV) Sanctura XR, an overactive bladder drug.

Tuesday August 14

The Home Depot Inc (NYSE: HD) to report Q2 earnings; conference call at 9am. Home Depot is expected to post substantial Q2 revenue/EPS declines, but equally important will be the company's comments: with the housing sector expected to remain sluggish through at least late 2007, analysts will evaluate whether HD can overcome that headwind with a new focus on customer service, demographic trends that suggest increased home repair/remodeling, and 20-year high homeownership rates that suggest steady house goods demand.
District Court California: Broadcom Corporation (NASDAQ: BRCM) to request an injunction related to Qualcom Incorporated's (Nasdaq: QCOM) infringement of 3 Broadcom cellular baseband patents.

Wednesday August 15

Macy's Inc (NYSE: M) to report Q2 earnings; conference call at 10:30am.
PDUFA date for GPC Biotech's (NASDAQ: GPCB) Satraplatin for treatment of hormone refractory prostate cancer.

Thursday August 16

JC Penney Co Inc (NYSE: JCP) to report Q2 earnings; conference call at 9:30am.
Hewlett Packard Company (NYSE: HPQ) to report Q3 earnings; conference call at 5pm. Analysts will evaluate HPQ's ability to maintain momentum in its innovative imaging/printing group, which is expected to help HPQ post solid Q3 revenue gains.

Friday August 17

Quantum Corporation (NYSE: QTM) to hold annual shareholder meeting at 12pm.
PDUFA Date for Endo Pharmaceuticals Holdings Inc's (NASDAQ: ENDP) and Vernalis PLC's (OTC: VNLSY) Frova, for menstrually-related migraine headaches.

Analyst initiations: HLF, LVLT and SNDK

Posted Aug 3rd 2007 10:32AM by Kevin Shult (RSS feed)
Filed under: Analyst Reports, Analyst Initiations, Level 3 Communications (LVLT), SanDisk Corp (SNDK)

MOST NOTEWORTHY: SanDisk (SNDK), Indevus Pharmaceuticals (IDEV), Integra LifeSciences (IART) and Level 3 Communications (LVLT) were today's noteworthy initiations:

SanDisk (NASDAQ: SNDK) was initiated with a Neutral rating at Cowen, as the firm believes it could face challenges in Q4 NAND flash memory demand given supply.

Rodman & Renshaw initiated shares of Indevus (NASDAQ: IDEV) with a Market Outperform rating and $10 target. The firm believes Indevus Nebibo and Sanctura XR upcoming events provide an attractive entry point.

Morgan Stanley initiated shares of Integra LifeSciences (NASDAQ: IART) with an Equal Weight rating and $55 target, citing competitive risks from larger competitors.

Shares of Level 3 Communications (NASDAQ: LVLT) were initiated at Raymond James with an Underperform rating, as the firm believes estimates will be difficult to achieve given high debt levels and free cash flow.

OTHER INITIATIONS:

Cowen initiated shares of STEC Inc (NASDAQ: STEC) and Spansion (NASDAQ: SPSN) with Neutral ratings and shares of Silicon Motion Technology Corp (NASDAQ: SIMO) with an Outperform rating.