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Analyst calls: BWLD, SNY, NYT, STP, ERIC, RTP, KTOS, ZGEN

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

Analyst upgrades: TEVA, NVAX, COCO, FIC and TEN

MOST NOTEWORTHY: Teva Pharma, Novavax, Corinthian Colleges, Fair Isaac and Tenneco were today's noteworthy upgrades:
  • Friedman Billings upgraded Teva Pharmaceutical (NASDAQ: TEVA) to Outperform from Market Perform following Teva's better-than-expected Q3 report and guidance.
  • Oppenheimer upgraded shares of Novavax (NASDAQ: NVAX) to Buy from Neutral based on positive expectations for Ph I/IIa pandemic influenza data, the start of clinical trials for seasonal influenza, and expected announcement of a vaccine product candidate in Q4.
  • Corinthian Colleges (NASDAQ: COCO) was upgraded to Buy from Neutral at Merrill following its better-than-expected Q1 report and guidance.
  • Citigroup upgraded of Fair Isaac (NYSE: FIC) to Buy from Hold shares to reflect the company's strong Q4 results and improved outlook.
  • Tenneco (NYSE: TEN) was raised to Outperform from Market Perform at Wachovia based on valuation and revenue opportunities in commercial truck market.
OTHER UPGRADES:

Analyst downgrades 1-29-07: Netflix downgraded to Sell

MOST NOTEWORTHY: Netflix Inc (NFLX) was the most notable downgrade on the first trading session of the week.
  • Roth Capital downgraded Netflix Inc (NASDAQ: NFLX) to Sell from Hold, on the belief that the competitive threat of Blockbuster (NYSE: BBI) will not likely diminish in the near-term.
OTHER DOWNGRADES:
  • Deutsche Telekom ADS (NYSE: DT) was downgraded to Sell from Hold at Citigroup following the company's profit warning.
  • LECG Corp (NASDAQ: XPRT) was downgraded by William Blair to Underperform from Outperform following the company's disappointing guidance.
  • Symantec Corp (NASDAQ: SYMC) was downgraded to Source of Funds from Accumulate at ThinkEquity.
  • Stephens downgraded Covenant Transport Inc (NASDAQ: CVTI) to Equal Weight from Overweight based on the timing of a turnaround.
  • Bear Stearns downgraded shares of MGM Mirage (NYSE: MGM) to Peer Perform from Outperform citing valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 28, 2012: 02:53 AM

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