NationwideFinancial posts
FeedPosted Nov 24th 2008 10:57AM by Laurie Pasternack (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Motorola (MOT), New York Times'A' (NYT), Analyst initiations, Rio Tinto plc ADS (RTP), Suntech Power Hldgs ADS (STP)
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Analyst upgrades:
- Jefferies upgraded Buffalo Wild Wings (NASDAQ: BWLD) to Buy from Hold on valuation with the stock down 65% in two months as they believe the company has a "best-in-class fundamental story." The firm lowered its target to $25 from $30.
- Morgan Stanley upgraded Sanofi-Aventis (NYSE: SNY) to Overweight from Equal Weight on valuation and believes near-term cost reductions could provide a positive catalyst.
- Citigroup upgraded New York Times (NYSE: NYT) to Hold from Sell and lowered its target to $5.50 from $7 on valuation and believes the dividend cut will boost the company's liquidity.
- Pantry (NASDAQL PTRY) was upgraded to Outperform from Market Perform at Friedman Billings.
- LECG Corp (NASDAQ: XPRT) was raised to Buy from Neutral at UBS.
- Thomson Reuters (NYSE: TRI) was upgraded at RBC Capital to Outperform from Sector Perform.
Analyst downgrades:
- Jefferies downgraded Suntech (NYSE: STP) to Hold from Buy and lowered its target to $6 from $25 as they believe concerns about a convert refinancing in February 2010 will continue to weigh on the stock.
- Credit Suisse cut Ericsson (NASDAQ: ERIC) to Underperform from Outperform due to expectations for a decline in wireless infrastructure spending.
- ING downgraded shares of Rio Tinto (NYSE: RTP) to Hold from Buy as they believe it will be challenging for the company to execute asset sales planned at reducing debt in the current environment.
Continue reading Analyst calls: BWLD, SNY, NYT, STP, ERIC, RTP, KTOS, ZGEN
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