- UBS upgraded Dr Pepper Snapple (DPS) to buy from neutral, citing strong fundamentals and buybacks. The firm raised its target to $42 from $31.
- Piper Jaffray upgraded ProAssurance (PRA) to overweight from neutral. The firm has a $76 price target on shares.
- Hershey (HSY) and Sunoco (SUN) were upgraded to sell from conviction sell at Goldman.
- Level 3 Comm (LVLT) was upgraded to neutral from underweight at JPMorgan.
- Cathay Pacific (CPCAY) was upgraded to buy from hold at Deutsche Bank.
SANM posts
FeedAnalyst Calls: BBBY, DPS, HSY, MT, PSYS, SUN, TMK, YHOO ...
Continue reading Analyst Calls: BBBY, DPS, HSY, MT, PSYS, SUN, TMK, YHOO ...
Analyst upgrades, downgrades and initiations: ANN, CS, MCO, NRG, RHT, TJX ...
- Citigroup upgraded Robert Half (NYSE: RHI) to Hold from Sell following the company's Q2 results, believing the worst may be behind the company. Citi raised its target on shares to $24 from $18.
- Goldman upgraded AnnTaylor (NYSE: ANN) to Buy from Neutral and raised its target to $13 from $6.50, citing improved merchandising and inventories.
- Baird upgraded TrueBlue (NYSE: TBI) to Outperform from Underperform and raised its target to $12 from $9, citing the better-than-expected Q2 report and guidance, strong balance sheet, and valuation.
- F5 Networks (NASDAQ: FFIV) was upgraded to Neutral from Underperform at BofA/Merrill.
- Credit Suisse (NYSE: CS) was upgraded to Buy from Hold at Deutsche Bank.
- Sanmina (NASDAQ: SANM) was upgraded to Neutral from Underperform at Credit Suisse.
Continue reading Analyst upgrades, downgrades and initiations: ANN, CS, MCO, NRG, RHT, TJX ...
Analyst upgrades: WFR, C and SANM
MOST NOTEWORTHY: Memc Electronic, Citigroup and Sanmina were today's noteworthy upgrades: - Citigroup upgraded shares of Memc Electronic (NYSE:WFR) to Buy from Hold on valuation as they believe the bad news is priced in following the company's quarter. The firm raised Memc's target to $65 from $64. JP Morgan upgraded shares to Overweight from Neutral on valuation.
- Morgan Stanley upgraded Citigroup (NYSE:C) to Equal Weight from Underweight based on asset sales, improved top-line, and dividend.
- Credit Suisse upgraded Sanmina (NASDAQ:SANM) to Outperform from Neutral citing valuation and margin traction. The firm raised Sanmina's target to $2.50 from $1.60. Cowen upgraded Sanmina to Outperform from Neutral following the Q3 report and guidance.
- Pharm Product (NASDAQ:PPDI) was upgraded at Baird to Outperform from Neutral.
- Sunoco Logistics (NYSE:SXL) was raised to Outperform from Market Perform at Wachovia.
- JP Morgan lifted Air Products (NYSE:APD) to Overweight from Neutral.
Analyst upgrades: LRCX, DT and FTE
MOST NOTEWORTHY: Lam Research, Deutsche Telekom and France Telecom were today's noteworthy upgrades:- Credit Suisse upgraded Lam Research (NASDAQ:LRCX) to Outperform from Neutral citing margin expansion and valuation. Lam was named the firm's top pick in SCE names for 2H08.
- JP Morgan upgraded shares of Deutsche Telekom (NYSE:DT) to Overweight from Neutral as they expect a stronger second half of the year for the industry.
- France Telecom (NYSE:FTE) was upgraded to Buy from Neutral at Merrill and to Buy from Hold at Societe Generale after the company walked away without bidding for Sweden's TeliaSonera.
- UBS upgraded American Express (NYSE:AXP), Capital One (NYSE:COF) and Discover (NYSE:DFS) to Neutral from Sell.
- New York Times(NYSE:NYT) was raised to Hold from Sell at Deutsche Bank.
- RBC Capital raised Sanmina (NASDAQ:SANM) to Sector Perform from Underperform.
- Merrill upgraded Sirius Satellite (NASDAQ:SIRI) to Buy from Neutral.
Analyst initiations 7-12-07: CELG, CLS, FLEX and SANM
MOST NOTEWORTHY: Celgene (CELG), Flextronics (FLEX), TradeStation (TRAD) and Assisted Living Concepts (ALC) were today's noteworthy initiations: - Jefferies is positive on Celgene (NASDAQ: CELG) over the longer term given the company's robust earnings growth potential and strong cash flow prospects, and started shares with a Buy.
- Flextronics (NASDAQ: FLEX) was assumed with a Buy rating at Banc of America, who called the proposed acquisition of Solectron (SLR) a positive.
- Friedman Billings believes TradeStation's (NASDAQ: TRAD) unique platform differentiates it from the competition and gives it a sustained advantage, starting shares with an Outperform.
- Ferris Baker Watts initiated Assisted Living (NYSE: ALC) with a Buy rating, calling shares attractive...
- Banc of America assumed Benchmark Electronics (NYSE: BHE) and Flextronics with Buy ratings as well as Celestica (CLS, target $6), Plexus (NASDAQ: PLXS), Solectron, Sanmina-SCI Corp (NASDAQ: SANM) with Neutral ratings.
Analyst initiations: AEO, ANN, BEBE, CHS and FLEX
MOST NOTEWORTHY: The electronics manufacturing services sector was today's noteworthy initiation: - Credit Suisse initiated coverage of the EMS sector with an Underweight. The firm believes the industry is burdened with overcapacity in high-cost manufacturing regions, with hyper competition, allowing for no pricing power.
- The analyst initiated Flextronics International Ltd (NASDAQ: FLEX) with an Outperform rating.
- Benchmark Electronics, Inc (NYSE: BHE), Jabil Circuit, Inc (NYSE: JBL), Plexus Corp (NASDAQ: PLXS) and Sanmina-SCI Corp (NASDAQ: SANM) were started with Neutral ratings.
- Celestica Inc (NYSE: CLS) and Solectron Corp (NYSE: SLR) were initiated with Underperform ratings.
- Nollenberger initiated Chico's FAS, Inc (NYSE: CHS), Cache, Inc (NASDAQ: CACH) and AnnTaylor Stores Corp (NYSE: ANN) with Neutral ratings.
- Nollenberger also started coverage of Bebe Stores, Inc (NASDAQ: BEBE) and American Eagle Outfitters (NYSE: AEO) with Buy ratings.
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