MIPS posts
FeedPosted Sep 19th 2008 11:08AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
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Analyst upgrades:
- Oppenheimer upgraded shares of Cree (NASDAQ: CREE) to Outperform from Perform as they believe LEDs are beginning to gain traction in general lighting applications.
- Jefferies upgraded Constellation Energy (NYSE: CEG) to Hold from Underperform following the acquisition by MidAmerican Energy. The company's target was increased to $25 from $20.
- RBC upgraded the Banking sector to Overweight from Underweight following the governments "massive assault" on the financial crisis. RBC believes government actions that include the potential creation of a Resolution Trust Corporation, the creation of federal insurance for money market fund investors and the ban on short selling will result in higher bank stock prices through year end; Wilmington Trust (NYSE: WL), KeyCorp (NYSE: KEY) and Pacific Capital Bancorp (NASDAQ: PCBC) were upgraded to Sector Perform from Underperform.
- Oracle (NASDAQ: ORCL) was raised to Buy from Neutral at Piper.
- UBS upgraded Murphy Oil (NYSE: MUR) to Neutral from Sell.
- Gap (NYSE: GPS) was upgraded to buy from Neutral at Goldman Sachs.
Analyst downgrades:
- Deutsche Bank downgraded shares of Thomson Reuters (NASDAQ: TRIN) to Sell from Buy as they believe uncertainty in the financial sector will hinder growth.
- Piper cut MIPS Technologies (NASDAQ: MIPS) to Neutral from Buy as they believe estimates are at risk following the departure of ChipIdea's co-founder. The company's target was lowered to $3.70 from $8.
- Jefferies downgraded GSI Commerce (NASDAQ: GSIC) to Hold from Buy on valuation as they view the risk/reward less compelling following the recent rally.
- Host Hotels (NYSE: HST) was downgraded at Baird to Neutral from Outperform.
- Wachovia downgraded Accenture (NYSE: ACN), Cognizant (NASDAQ: CTSH) and Infosys (NASDAQ: INFY) to Market Perform from Outperform.
Analyst initiations:
- Jefferies initiated Abercrombie & Fitch (NYSE: ANF) with an Underperform rating and $38 target and thinks the company's sales and margins are at risk with negative comp trends getting worse.
- Cantor believes Lawson Software (NASDAQ: LWSN) has a powerful franchise while the stock trades at a 33% discount to peers. Shares were assumed with a Buy rating and $8 target.
- Stanford started Mentor (NYSE: MNT) with a Buy rating and $32 target and thinks the company is poised to benefit from growing global demand for products and services that make people look younger and more attractive.
- Scripps Networks (NYSE: SNI) was initiated at UBS with a Neutral rating and $43 target.
- BMO Capital initiated Costco (NASDAQ: COST) and BJ's Wholesale (NYSE: BJ) with Market Perform ratings and a $72 target and $42 target, respectively.
- Isle of Capri (NASDAQ: ISLE) was initiated at Goldman with a Sell rating and $6 target.
Posted Nov 12th 2007 9:55AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Federal Natl Mtge (FNM)
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MOST NOTEWORTHY: The U.S. banking sector, HSBC Holdings, Trans World and Mips Technologies were today's noteworthy downgrades:
- CIBC downgraded the U.S. Banks sector to Underweight from Market Weight as they see another leg down as investors shift focus away from write-downs to the impact the write-downs will have on risk-weighted assets and capital ratios.
- Morgan Stanley downgraded shares of HSBC Holdings Plc (NYSE: HBC) to Equal Weight from Underweight, as they believe the company may have to set aside more money for bad loans in the U.S.
- B. Riley downgraded shares of Trans World Entertainment Corporation (NASDAQ: TWMC) to Neutral from Buy, as they believe the downside risk should the Bob Higgins acquisition proposal fall through outweighs the potential upside should the bid be raised or should another bidder emerge.
- B. Riley also downgraded Mips Technologies Inc (NASDAQ: MIPS) to Neutral from Buy following the company's Q1 results to reflect the company's deteriorating balance sheet and licensing business softness.
OTHER DOWNGRADES:
Posted May 11th 2007 11:32AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Dow Chemical (DOW), Analyst initiations
MOST NOTEWORTHY: Dow Chemical (DOW), Smart Modular (SMOD), Wolverine World Wide (WWW), Win-Dixie Stores (WINN) and Blue Nile (BLUE) were today's noteworthy initiations:
- UBS is positive on the ethylene cycle over the next two years and believes Dow Chemical (NYSE: DOW) can beat 2008 consensus estimates, initiating shares with a Buy rating.
- JMP Securities started Smart Modular (NASDAQ: SMOD) with a Strong Buy as a unit volume growth theme without much dependence on commodity memory chip pricing.
- Citigroup expects further upside given Wolverine World Wide's (NYSE: WWW) strong portfolio of brands, further growth opportunities through line extensions and international growth. The firm started Wolverine World Wide with a Buy rating and $33 target.
- Winn-Dixie Stores (NASDAQ: WINN) was started with a Market Perform rating, citing low levels of profitability and unproven ability to drive sustainable profitable sales.
- American Technology believes the valuation of Blue Nile (NASDAQ: NILE) leaves little room for upside, despite a highly attractive business model and strong fundamentals, and started shares with a Sell rating and $45 target...
OTHER INITIATIONS:
- Longbow started Mips Tech (NASDAQ: MIPS) with a Buy rating and $12 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Posted Apr 23rd 2007 11:13AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Aetna Inc (AET), Alcatel-LucentADS (ALU), Analyst initiations
MOST NOTEWORTHY: UnitedHealth Group Inc (UNH), Aetna Inc (AET), Hercules Inc (HPC) and Alcatel-Lucent (ALU), were today's noteworthy initiations:
- Jefferies started UnitedHealth Group inc NYSE: UNH) with a Hold rating and $48 target and said near-term risk is still present due to unfavorable reserve adjustments to the company's commercial risk business and high expectations for improvement in the company's commercial medical care ratio.
- Aetna Inc (NYSE: AET) was also initiated by Jefferies with a Hold rating based on valuation.
- Credit Suisse started Hercules Inc (NYSE: HPC) with an Outperform rating and $24 target.
OTHER INITIATIONS:
- Cowen is positive on MIPS Technologies, Inc (NASDAQ: MIPS), starting the company with an Outperform rating, and expects a deal with Microchip Technology Inc (MCHP) to be announced soon.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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