TownSports posts
FeedPosted Nov 8th 2007 10:25AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, AFLAC Inc (AFL), Nortel Networks (NT), Tyson Foods'A' (TSN)
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MOST NOTEWORTHY: Total SA, HLTH Corp, Aflac First Solar and Town Sports were today's noteworthy upgrades:
- Citigroup upgraded Total SA (NYSE: TOT) to Buy from Hold following the company's Q3 results. JP Morgan upgraded shares to Overweight from Neutral, as they believe the company's Q3 results underlined the strength of exploration and production growth prospects versus peers.
- Friedman Billings raised its rating on HLTH Corporation (NASDAQ: HLTH) to Outperform from Market Perform following the company's proposal to merge into WebMD Health Corp (NASDAQ: WBMD) for a combination of cash and stock.
- The firm also added shares of Aflac (NYSE: AFL) to its Top Picks List, as they believe Aflac is the only high quality, defensive growth story in the Life Insurance sector.
- CIBC upgraded shares of First Solar (NASDAQ: FSLR) to Sector Outperformer from Sector Performer following the Q3 upside and set a $230 target on the stock.
- Banc of America upgraded shares of Town Sports (NASDAQ: CLUB) to Neutral from Sell on valuation as they believe the downside risk is now priced into the stock.
OTHER UPGRADES:
Posted Nov 2nd 2007 12:18PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, eBay (EBAY), Yum Brands (YUM)
MOST NOTEWORTHY: General Communications, Glu Mobile, Town Sports, Blackboard and Lance were today's noteworthy downgrades:
- Jefferies downgraded shares of General Communications (NASDAQ: GNCMA) to Hold from Buy after the company's mixed quarter to reflect increased uncertainty from the recent weakness in its network access and commercial business.
- Glu Mobile (NASDAQ: GLUU) was downgraded to Hold from Buy at Deutsche Bank and to Neutral from Buy at Goldman Sachs following its Q3 report. Cantor downgraded shares after the company issued reduced growth expectations.
- William Blair downgraded shares of Town Sports (NASDAQ: CLUB) to Market Perform from Outperform to reflect the recent slowdown in new membership additions at mature clubs which they believe creates enhanced risk of operating margin contraction and decelerating EPS growth in 2008.
- Baird downgraded Blackboard (NASDAQ: BBBB) to Neutral from Outperform on valuation and expectations for only modest margin expansion.
- Lance (NASDAQ: LNCE) was downgraded at Oppenheimer to Neutral from Buy, as they expect higher wheat costs to significantly impact Q4 and 2008 EPS.
OTHER DOWNGRADES:
- Citigroup downgraded Pepsi Bottling Group (NYSE: PBG) to Hold from Buy.
- eBay (NASDAQ: EBAY) was downgraded to Peer Perform from Outperform at Bear Stearns.
- DaVita (NYSE: DVA) was downgraded to Underperform from Market Perform at Piper Jaffray and to Outperform from Strong Buy at Raymond James.
- UBS lowered its rating on YUM! Brands (NYSE: YUM) to Neutral from Buy.
Posted Sep 10th 2007 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Halliburton (HAL), Schlumberger Limited (SLB), Advanced Micro Dev (AMD), Analyst Initiations, SanDisk Corp (SNDK)
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MOST NOTEWORTHY: Advanced Micro Devices, Hancock Holding, Town Sports and Gerdau SA were today's noteworthy initiations:
- Nollenberger started shares of Advanced Micro Devices (NYSE: AMD) with a Buy rating and $18 target. The firm believes the company's issues are widely known and already baked into the valuation and feels the Barcelona ramp and performance are likely ahead of expectations and demand for the latest family of ATI graphics is solid.
- B. Riley initiated shares of Hancock Holding Company (NASDAQ: HBHC) with a Buy rating of $43 target as the firm believes a higher premium is warranted given the company's superior growth prospects and conservative management profile.
- Town Sports International Holdings (NASDAQ: CLUB) was initiated with a Sector Outperformer and a $23 target at CIBC. The firm expects shares to be driven by improving fundamentals.
- Citigroup believes Gerdau SA's (NYSE: GGB) acquisition of Chaparral was expensive and will provide near-term headwinds for the stock, starting shares off with a Hold rating.
OTHER INITIATIONS:
Posted Sep 7th 2007 11:10AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Chicago Merc Exch Hld'A' (CME), NYSE Euronext (NYX), Analyst Initiations
MOST NOTEWORTHY: The exchange sector, Progenics Pharma, Tyco Electronics and PharMerica were today's noteworthy initiations:
- Keefe Bruyette initiated coverage on Exchange Sector: The firm started shares of CME Group Inc (NYSE: CME), NYMEX Holdings Inc (NYSE: NMX) and NYSE Euronext Inc (NYSE: NYX) with Outperform ratings and a $669 target, $147 target and $90 target, respectively. The firm also started shares of Investment Technology Group (NYSE: ITG), Nasdaq Stock Market Inc (NASDAQ: NDAQ) and IntercontinentalExchange Inc (NYSE: ICE) with Underperform ratings and a $47 target, $36 target and $158 target, respectively, and shares of Knight Capital Group (NASDAQ: NITE) with an Underperform rating and $13 target.
- Progenics Pharmaceuticals (NASDAQ: PGNX) was added to Friedman Billings' Top Picks list and its Outperform rating was maintained. The firm has a high degree of confidence in the success of the MNTX Ph III studies in post-operative ilieus, as well as the FDA approval of the subcutaneous injection in terminally ill patients with opiod-induced constipation around the 1/31/07 PDUFA date.
- RBC believes margin expansion will drive long-term appreciation in Tyco Electronics Ltd (NYSE: TEL) and started shares with an Outperform rating and $41 target.
- PharMerica Corporation (NYSE: PMC) was initiated with an Underperform rating at Bear Stearns. The firm believes PMC will be pressured by customer losses and generic reimbursement cuts and sees shares trading in $12-$13 range.
OTHER INITIATIONS:
Posted Jan 26th 2007 11:32AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, AT and T (T), CBS Corp 'B' (CBS), Trump Entertainment Resorts (TRMP), Analyst Initiations, Level 3 Communications (LVLT)
MOST NOTEWORTHY: The Gaming sector and CBS Corp (CBS) were the most notable companies on today's initiation list.
- Prudential initiated the Gaming sector with a Favorable rating,
- They initiated Boyd Gaming Corp (NYSE: BYD), Town Sports International Holdings (NASDAQ: CLUB), Penn National Gaming (NASDAQ: PENN), Shuffle Master Inc (NASDAQ: SHFL), Steiner Leisure Ltd (NASDAQ: STNR) and Great Wolf Resorts Inc (NASDAQ: WOLF) with Outperform ratings.
- Ameristar Casinos Inc (NASDAQ: ASCA), MGM Mirage (NYSE: MGM) and WMS Industries Inc (NYSE: WMS) were initiated with Neutral ratings.
- Underweight ratings were given to International Game Tech (NYSE: IGT), Isle of Capri Casinos Inc (NASDAQ: ISLE), Life Time Fitness Inc (NYSE: LTM), Pinnacle Entertainment Inc (NYSE: PNK) and Trump Entertainment Resorts Inc (NASDAQ: TRMP).
- UBS initiated CBS Corp (NYSE: CBS) with a Buy rating and $38 target, citing valuation, dividends and buybacks.
OTHER INITIATIONS:
- Nollenberger believes International Rectifier Corp (NYSE: IRF) is the way to play the trend for energy efficiency, initiating the company with a Buy rating and $60 target.
- Goldman Sachs resumed coverage of AT&T Inc (NYSE: T) with a Buy rating and Level 3 Communications inc (NASDAQ: LVLT) with a Neutral rating.
- Stanford started EDO Corp (NYSE: EDO) with a Hold rating and $25 target; the firm believes EDO can be a turnaround story in 2007, but they recommend investors to stay on the sidelines until after Q4 earnings given their concerns over the quarter and guidance.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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