WWW - Posts tagged PVG at BloggingStocks

PVG posts

Analyst Calls: STI, BIDU, BAX, JBLU, TRV, SNDK, AGN, COO, BEC

Analyst upgrades:

Morgan Keegan upgraded Copano Energy (CPNO) to Outperform from Market Perform based on the $300M capital infusion it received from TPG Capital.
Wells Fargo upgraded SunTrust (STI) to Market Perform from Underperform following the company's Q2 results citing improving credit quality trends and valuation.
UBS upgraded Baidu (BIDU) to Buy from Neutral based on solid fundamentals following the strong Q2 report and guidance and valuation. The firm raised its price target to $92 from $69.
Baxter (BAX) was upgraded to Conviction Buy from Neutral at Goldman.
JetBlue (JBLU) was upgraded to Buy from Hold at Soleil.
Penn Virginia GP (PVG) was upgraded to Outperform from Sector Perform at RBC Capital.

Analyst downgrades:

Piper Jaffray downgraded Beckman Coulter (BEC) to Neutral from Overweight following the company's weaker than expected Q2 results and lowered guidance. The firm lowered its target for shares to $60 from $74. Shares were also downgraded to Hold from Buy at Jefferies and to Neutral from outperform at Baird following the company's reduced guidance.
Keefe Bruyette cut AmeriCredit (ACF) to Market Perform from Outperform following the acquisition by General Motors (GM, MTLQQ).
FBR Capital downgraded SunTrust (STI) to Market Perform from Outperform and lowered its price target to $27 from $34. The analyst believes larger banks are better positioned than regionals due to greater prospects of reserve releases.
Travelers (TRV) was downgraded to Perform from Outperform at Oppenheimer.
Lender Processing (LPS) was downgraded to Neutral from Buy at Goldman.
Penn Virginia Resource (PVR) was downgraded to Sector Perform at RBC Capital.

Analyst initiations:

ThinkEquity assumed coverage of SanDisk (SNDK) with a Buy rating.
Macquarie initiated Allergan (AGN) with an Outperform rating and $75 price target.
Macquarie also initiated Cooper Companies (COO) with an Outperform rating and $45 price target.
NCR Corp (NCR) was initiated with a Hold rating at KeyBanc.
CryoLife (CRY) was started at Benchmark Co. with a Buy rating and $8 target.
China New Borun (BORN) was initiated with an Overweight rating and $7.40 target at Piper Jaffray.

MOST NOTEWORTHY: Steel Dynamics, Nucor, Nokia and Wachovia were today's noteworthy upgrades:

UBS upgraded Steel Dynamics (NASDAQ: STLD) and Nucor (NYSE: NUE) to Buy from Neutral and added them to their Short-Term Buy list citing oversold valuations and the belief that both will beat Q2 Street estimates and guide higher.
Dresdner Kleinwort upgraded shares of Nokia (NYSE: NOK) to Buy from Add as they believe the company's second half of the year looks strong due to new product launches.
Merrill Lynch upgraded Wachovia (NYSE: WB) to Neutral from Underperform on valuation as they believe credit headwinds are priced into the stock at current levels. Merrill also thinks WB would make a "good fit" for JP Morgan (JPM) and puts a realistic acquisition value on the company of $16-$20 per share.

OTHER UPGRADES:

MOST NOTEWORTHY:

Motorola Inc (NYSE: MOT) was the sole notable initiation today. Shares of the cellphone giant were resumed at Goldman Sachs with a Neutral rating and $18 target.

OTHER INITIATIONS:

Penn Virginia GP Holdings L.P.(NYSE: PVG) was initiated by AG Edwards with a Buy and RBC Capital Markets with an Outperform.

Stifel initiated Armstrong World Indus (NYSE: AWI) with a Buy rating; the firm expects a sale of the 65.5% control block of stock owned by the Asbestos Trust to a strategic buyer or private equity firm. The firm believes the company can be valued in the $55-$60 range in a buyout.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).