Citigroup, Inc. (C) attracted a bullish note this morning from analyst Richard Bove of Rochdale Securities. The outspoken financial analyst hiked his rating on the shares from neutral to buy, citing the banking issue's healthy liquidity position.

"This gives management the flexibility to off-load the problem operations and to support longer term growth," wrote Bove in a note to clients. "It will be a money-making machine again and the stock is long-term cheap."

Bove also raised his price target on Citi shares from $3.75 to $5, implying expected upside of 28.2% to the stock's closing price on Friday.

Continue reading Citigroup Upgraded to Buy

Citigroup Upgraded to Buy originally appeared on BloggingStocks on Mon, 22 Mar 2010 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Morgan Stanley upgrades General Mills

Morgan Stanley upgrades General Mills originally appeared on BloggingStocks on Tue, 06 Oct 2009 08:30:00 EST. Please see our terms for use of feeds.

Brokerage firm Barclays this morning raised its price target on Apple Inc. (NASDAQ: AAPL) from $188 to $208. The new target represents a premium of 25.8% to AAPL's closing price on Wednesday. Additionally, Barclays reiterated its upbeat Overweight rating on the shares.

In a note to clients, analyst Ben Reitzes cited Apple's solid product pipeline and strong free cash flow outlook. "New products should begin to flow again within a few weeks," said Reitzes. "We are more upbeat about the long-term prospects for the iPhone & Mac lines with potential new products."

Continue reading Apple Inc. buoyed by Barclays' price-target boost

Apple Inc. buoyed by Barclays' price-target boost originally appeared on BloggingStocks on Thu, 13 Aug 2009 10:30:00 EST. Please see our terms for use of feeds.

Harley-Davidson has certainly recovered from its 52-week low made back in March of this year. The stock bounced back from $7.99 to a price of $16.55 as of this writing.

Continue reading Harley-Davidson not riding too much higher according to analyst

Harley-Davidson not riding too much higher according to analyst originally appeared on BloggingStocks on Mon, 13 Jul 2009 16:30:00 EST. Please see our terms for use of feeds.

Tech stock VMware, Inc. (NYSE: VMW) is broadly higher today on the heels of an upbeat note from Goldman Sachs. VMW was added to the brokerage firm's Conviction Buy list, with Goldman noting an expected boost in sales. The firm also thinks that VMW is better-positioned than many of its competitors to ride out the economic recession.

In addition to the Conviction Buy nod, Goldman also hiked its price target on VMW to $29, representing a premium of 22.8% to the equity's Tuesday closing price. The stock could attract additional price-target increases during the short term, as Thomson Reuters pegs its average 12-month target from analysts as $23.31 -- a modest discount to yesterday's close.

Continue reading VMware rallies on Goldman Sachs' bullish endorsement

VMware rallies on Goldman Sachs' bullish endorsement originally appeared on BloggingStocks on Wed, 01 Apr 2009 11:50:00 EST. Please see our terms for use of feeds.

Analyst Douglas Harned of Sanford C. Bernstein chopped his price targets on several defense stocks today, including Lockheed Martin Corp. (NYSE: LMT). "Trends in the defense budget remain the most important driver of defense stocks, and the cash flow outlook is strong for the defense businesses," said Harned in a note to clients.

Harned cut LMT's price target from $104 to $96, but he reiterated an "outperform" rating on the stock. Lockheed Martin remains the analyst's top pick in the defense sector, thanks to its strong overall growth potential and support from its F-35 Joint Strike Fighter program. Despite his forecast for a reduction in supplemental defense budgets, Harned expects the F-35 program will remain fully funded.

Continue reading Lockheed Martin hit with price-target cut on defense budget concerns

Lockheed Martin hit with price-target cut on defense budget concerns originally appeared on BloggingStocks on Mon, 16 Mar 2009 11:15:00 EST. Please see our terms for use of feeds.

"Given the current economic and regulatory environment, we felt this was a prudent step to take to further enhance our capital position and our liquidity," said President and CEO Larry D. Richman in a statement.

Continue reading PrivateBancorp plummets after slashing its quarterly dividend

PrivateBancorp plummets after slashing its quarterly dividend originally appeared on BloggingStocks on Thu, 05 Mar 2009 12:50:00 EST. Please see our terms for use of feeds.

The shares of Level 3 Communications (NASDAQ: LVLT) are sinking deeper into penny-stock territory this morning following a damaging price-target cut from analysts at Citigroup. The brokerage firm slashed its price target on LVLT from $2.00 to 50 cents, and reiterated its Sell rating on the stock.

After closing Monday at 94 cents, LVLT is slipping ever closer this morning to that hypothetical "support at zero." In fact, following yesterday's all-out bearish note on General Motors (NYSE: GM), one has to wonder if Deutsche Bank will soon be slapping another of its famous goose-egg targets on Level 3. The stock has closed seven out of the past 13 sessions south of the $1 level, and its descending 10-day and 20-day moving averages have provided stubborn resistance in recent months.

In fact, while many analysts have already denounced LVLT, there's still room for potential downgrades or price-target cuts. Zacks reports two Buy or better ratings from brokerage firms, and these bulls may soon be shamed into lowering their opinions (if so, they would join six analysts who consider the stock a Hold, and six who deem it a Sell or Strong Sell).

Meanwhile, Thomson Financial pegs the average 12-month price target at $1.68, a premium of 87% to the equity's closing price on Monday. While more negative notes could drag the shares lower, there is a bright side -- from their current level, the shares could only lose about 85 cents.

Elizabeth Harrow is an analyst and financial writer in the research department at Schaeffer's Investment Research. She is featured in the video series Schaeffer's Daily Q&A on SchaeffersResearch.com.

Level 3 Communications' price target slashed to 50 cents at Citi originally appeared on BloggingStocks on Tue, 11 Nov 2008 11:31:00 EST. Please see our terms for use of feeds.

Fertilizer firm Potash Corp. of Saskatchewan (NYSE: POT) was hit with a price-target cut from analysts at UBS today. The brokerage firm slashed its target price from $150 to $130, but reiterated its Buy rating on the stock. It's been a schizophrenic day for the company, brokerage-wise; the late-breaking note from UBS effectively dashed the upward momentum POT gained this morning when Dundee upgraded the North American fertilizer sector to Overweight.

In fact, "schizophrenic" more or less sums up analyst activity on POT during the past several weeks. Following its third-quarter earnings report on October 23, Potash Corp. received no fewer than five price-target cuts, along with three reiterations of bullish Buy or better ratings, plus an upgrade. To make matters even more interesting, this is the second price-target cut UBS has issued on POT in the past week -- the first cut, on October 29, was from $165 to $150.

According to Thomson Financial, the deluge of downward revisions might not be over yet. POT's average 12-month price target is $115.98. This consensus estimate represents a rather healthy premium of 36% to the stock's closing price last Friday. Considering that POT shares have plummeted about 41% year-to-date, it seems safe to say that expectations might be too high for this Canadian import.

Continue reading Potash Corp. of Saskatchewan slapped with a price-target cut

Potash Corp. of Saskatchewan slapped with a price-target cut originally appeared on BloggingStocks on Mon, 03 Nov 2008 16:40:00 EST. Please see our terms for use of feeds.

In a note to clients, Bernstein boosted its rating on AAPL from Market Perform to Outperform, and said that its "longer-term growth story remains intact." Analyst A.M. Sacconaghi added, "Investors appear to be valuing Apple on an earnings multiple, rather than on cash flow, which fundamentally undervalues the company given the huge deferred revenue growth associated with the iPhone."

Specifically, the brokerage firm estimates that the iPhone itself could add between $2.25 and $3.40 per share to cash flow above earnings in fiscal 2009.

However, following the stock's recent free-fall down the charts, Bernstein was forced to trim its price target on AAPL from $175 to $135. Credit Suisse followed suit, slashing its price target on the equity from $200 to $135. Despite today's gain of about 7% amid a massive rally in U.S. stocks, Apple shares could be vulnerable to more price-target cuts during the near term. Thomson Financial pegs the average 12-month price target at $176.33, a lofty premium of 82% to Friday's close at $96.80.

Elizabeth Harrow is an analyst and financial writer in the research department at Schaeffer's Investment Research. She is featured in the video series Schaeffer's Daily Q&A on SchaeffersResearch.com.

Apple attracts an upgrade on valuation, but can't escape price-target cuts originally appeared on BloggingStocks on Mon, 13 Oct 2008 12:44:00 EST. Please see our terms for use of feeds.

On a day when many telecom stocks were hit with downgrades, China Mobile Limited (NYSE: CHL) distinguished itself this morning by scoring an upgrade. Goldman Sachs raised its rating on CHL from "sell" to "neutral," while simultaneously trimming the stock's price target from HK$95 to HK$90. The price-target cut echoes a similar move made by Citigroup on Sunday; the brokerage firm cut its target on CHL from HK$120 to HK$100.

In response to today's mixed analyst comment, CHL is down more than 7% at midday. The equity has shed about 42% year-to-date, and its lengthy decline could prompt additional price-target cuts during the short term. According to Thomson Financial, China Mobile shares are trading about 60% south of their average 12-month price target of USD $81.01.

Today's upgrade from Goldman comes as CHL is approaching former support at the $44 level. This region buoyed the stock in early 2007 and earlier this month, which suggests that it could once again provide a floor for the shares. Unfortunately, though, the stock is also looking up at stiff technical resistance from its 10-week moving average, which means China Mobile might find itself bouncing sideways in the weeks to come. Or -- even more troubling -- a continued drop in the share price could spark an unwinding of widespread optimistic sentiment.

Continue reading China Mobile scores an upgrade, but plunges on price-target cut

China Mobile scores an upgrade, but plunges on price-target cut originally appeared on BloggingStocks on Mon, 29 Sep 2008 13:15:00 EST. Please see our terms for use of feeds.

Digging into the various reports, JP Morgan and ING both slashed their price target on Nokia from 11 euros to 10 euros per share. JP Morgan reiterated its "underweight" rating, and said it still thinks Nokia can increase its market share -- just not as much as the company might have hoped. The brokerage firm also sees replacement cycles growing by 6.5 months in 2009.

Meanwhile, Dresdner Kleinwort backed its 'hold" rating and its 15-euro target price, but warned that gross margins across the sector will remain under pressure through 2010.

The barrage of bearish brokerage notes -- along with RIM's disappointing turn in the earnings spotlight -- has NOK more than 4% lower at midday. Today's plunge likely came as a disappointment to enthusiastic option players; yesterday, traders on the International Securities Exchange (ISE) and the Chicago Board Options Exchange (CBOE) bought to open 25,322 calls on NOK, compared to just 346 puts.

Continue reading Nokia hit with price-target cuts, slammed by RIM's weakness

Nokia hit with price-target cuts, slammed by RIM's weakness originally appeared on BloggingStocks on Fri, 26 Sep 2008 12:57:00 EST. Please see our terms for use of feeds.

Evergreen Solar, Inc. (NASDAQ: ESLR) plunged to an all-time low of $3.30 on Tuesday, thanks to the widespread ripple effect caused by Lehman Brothers' bankruptcy filing. As Evergreen confessed to a potentially substantial Lehman-related loss, analysts rushed yesterday to hand out price-target cuts. Today, Citigroup bucked the trend by upgrading ESLR from "sell" to "hold."

The bullish note seems primarily based on increased transparency regarding the Lehman situation, as well as a sharp decline in the stock's valuation. In a note to clients, Citigroup clarified, "With ESLR more clearly defining its exposure to a Lehman Bros. bankruptcy, the worst-case scenario is now well-defined . . . these issues appear much better discounted at current levels."

In response to the upgrade, ESLR has added more than 13% today. The shares are trading around the $5 mark, though, which puts them in territory not previously explored since May 2005. The stock's year-to-date loss now totals 75% -- a stomach-churning plunge, for sure, but the stubbornly bullish sentiment among investors suggests that more downside may be in store for Evergreen Solar.

Continue reading Evergreen Solar scores an upgrade, despite Lehman-related losses

Evergreen Solar scores an upgrade, despite Lehman-related losses originally appeared on BloggingStocks on Wed, 17 Sep 2008 12:40:00 EST. Please see our terms for use of feeds.

The shares of Wachovia Corporation (NYSE: WB) opened on a gain of nearly 6% this morning, thanks to a positive note from brokerage firm UBS. The analysts raised their price target on WB from $12.50 to $16, and reiterated a "neutral" rating. However, the stock has wasted no time in whittling its early morning gains, and slipped into negative territory before midday.

Yesterday, Wachovia shares closed lower after Friedman Billings & Ramsey reinitiated coverage at "underperform." No surprise there -- but, in today's session, the equity is declining on what should have been a bullish boost from UBS. In fact, most financial stocks are higher today following speculation on a potential buyout bid for Lehman Brothers (NYSE: LEH). The Select Sector SPDR Financial Fund (NYSE: XLF) is sitting on a gain of more than 2% at last check.

Continue reading Wachovia bounces, then fizzles, on price-target boost

Wachovia bounces, then fizzles, on price-target boost originally appeared on BloggingStocks on Fri, 22 Aug 2008 12:06:00 EST. Please see our terms for use of feeds.

Newell Rubbermaid upgraded across the board originally appeared on BloggingStocks on Thu, 15 Feb 2007 12:54:00 EST. Please see our terms for use of feeds.

Time Warner target trimmed at CIBC originally appeared on BloggingStocks on Fri, 13 Oct 2006 02:48:00 EST. Please see our terms for use of feeds.

In a research note today, Rick Sherlund of Goldman Sachs lifted his target on Microsoft Corporation (NASDAQ: MSFT) from $30 to $33. Sherlund is considered "The Axe" on The Street -- the analyst most accurate and connected to Microsoft.

As reasons for the upgrade, his note cited share buybacks, but he was also positive on new product releases. He is also encouraged by the initial feedback on Windows Vista, especially since we are essentially one quarter away from its launch. The research note also raises expectations for Microsoft's new Zune media player debuted yesterday, but Sherlund thinks that the Apple share of the market and loyalty to iTunes could be a market constraint.

One interesting note here is that he had modeled a March launch for Vista and now thinks it will be a late January or early February launch. He believes vouchers or coupons will be released in late November so that the PC sales for the holidays will not be slowed by customers waiting for the operating system upgrade. He laid out a few scenarios about what that could mean financially, but he anticipated a revenue change to his model of only 2% - 4%.

The last part of Sherland's note said that he expects Xbox 360 to win out over Sony's PS3 and he even stated that he expects Xbox will be a profitable operation one year out.

This research note actually has a lot of "update" information in it that one would have honestly expected him to have already come out with, but since he is the Axe, you can expect others to follow suit with positive commentary on Microsoft. Most analysts have had positive official ratings on MSFT for what seems like forever, so rating changes may be in the form of estimates and price target revisions if the Street follows suit.

MSFT is trading up 0.75% at $26.53 pre-market on almost 700,000 shares; and that is after the stock closed up $0.35 at $26.33 yesterday on 74 million shares.

John C. Ogg is a partner at financial blog 24/7 Wall St.

Goldman raises Microsoft target to $33 originally appeared on BloggingStocks on Fri, 15 Sep 2006 09:38:00 EST. Please see our terms for use of feeds.

eBay was the leader in the Chinese auction market but in January had to drop transaction fees from basic C2C services.  This is due to the introduction of a free auction service by rival Taobao in 2004 that caused a massive flight of consumers in its direction.

But have no fear, Forbes has just published an article saying that in the event of a bird flu pandemic, eBay should do well.  Here's something to hope for.

eBay after the bell 6-16-06: more trouble in China originally appeared on BloggingStocks on Fri, 16 Jun 2006 17:35:00 EST. Please see our terms for use of feeds.

Guess it is about time that Merrill Lynch realized that its price targets for some Internet stocks were a bit too lofty (is the legacy of Henry Blodget still alive and well at that firm?).

Today Merrill lowered targets for both eBay and Google -- keeping an "attractive" recommendation on both stocks -- but admitting that its estimate for how much investors would be willing to pay was too high. In Wall  Street parlance, the reassessment was "due to lower multiple assumptions" as Theflyonthewall.com  reports (subscription required).

Now, try not to laugh. But here's the change in price targets:

eBay, now trading at $33, was lowered to $44 from $51. The firm sees the new deal with Yahoo as a potential catalyst. It will need a catalyst to get to $44 from here.

Google, now trading at $373, was lowered from $540 to $490. Still an ambitious target.

Seems to me like Merrill is still feeling quite optimistic.

Merrill Lynch lowers price targets for eBay, Google originally appeared on BloggingStocks on Wed, 31 May 2006 10:05:00 EST. Please see our terms for use of feeds.