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Analyst upgrades, downgrades and initiations: COMS, GOLD, STT, SVNT, TXN

Analyst upgrades
  • Oppenheimer upgraded Savient Pharmaceuticals (NASDAQ: SVNT) to Perform from Underperform after the FDA's Arthritis Advisory Committee voted 14-1 in favor of approving Krystexxa for gout.
  • Banc of America/Merrill upgraded Texas Instruments (NYSE: TXN) to Buy from Underperform and raised its target to $27 from $18 based on expectations that margin expansion will be higher than Street expectations.
  • UBS said Nvidia (NASDAQ: NVDA) has limited downside risk given the improved outlook for the graphics processor market and professional solutions business. Shares were upgraded to Neutral from Sell and its target was raised to $11.50 from $8.
  • BHP Billiton (NYSE: BHP) was upgraded to Outperform from Neutral at Macquarie.
  • Neutral Tandem (NASDAQ: TNDM) was upgraded to Outperform from Neutral at Baird.
  • Central Garden & Pet (NASDAQ: CENT) was upgraded to Buy from Neutral at SunTrust.

Continue reading Analyst upgrades, downgrades and initiations: COMS, GOLD, STT, SVNT, TXN

Analyst initiations: BBBB, RUTH, TXRH, STV and MAIN

MOST NOTEWORTHY: Blackboard, Ruth's Chris Steak House, Texas Roadhouse, China Digital and Main Street were today's noteworthy initiations:
  • Suntrust initiated shares of Blackboard (NASDAQ:BBBB) with a Neutral rating, as they sees risk to 2008 Street estimates due to minimal margin expansion.
  • Deutsche Bank started shares of Ruth's Chris Steak House (NASDAQ:RUTH) with a Hold rating, as they find it difficult to recommend a high-end dining chain in this economic environment.
  • The firm also initiated Texas Roadhouse (NASDAQ:TXRH) with a Buy rating and $15 target, citing the company's solid balance sheet, consistent operating history and low valuation.
  • Piper expects shares of China Digital (NYSE:STV) will move higher as investors recognize the growth potential of the conditional access card market in China. The firm started shares off with a Buy rating and $43 target.
  • Morgan Keegan resumed coverage of Main Street (NASDAQ:MAIN) with an Outperform rating and sees fair value range $15.50 to $17.00 based on MAIN's current yield of 9.2%.
OTHER INITIATIONS:

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 02:23 AM

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