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Analyst calls: NVS, DWA, APC, RF, GE, MTB, BYD, NWL ...

Analyst upgrades:
  • Credit Suisse upgraded shares of Novartis (NYSE: NVS) to Neutral from Underperform as they believe the stock's defensive characteristics justify a premium valuation.
  • Merrill raised Dreamworks (NYSE: DWA) to Buy from Neutral and has increased confidence in DWA's sustainable success following the performance of Kung Fu Panda and new revenue streams.
  • Anadarko Petroleum (NYSE: APC) was raised to Buy from Hold at Stanford on valuation.
  • Goldman upgraded Smurfit-Stone (NASDAQ: SSCC) and Canadian National (NYSE: CNI) to Buy from Neutral and added International Paper (NYSE: IP) to the Conviction Buy List.
  • Northern Trust (NASDAQ: NTRS) was upgraded to Buy from Neutral at Merrill.
Analyst downgrades:
  • Jefferies downgraded shares of Savvis (NASDAQ: SVVS) to Hold from Buy and lowered the target to $17 from $20 to reflect decreasing visibility from economic headwinds and expectations for increased capex.
  • Citigroup downgraded Regions Financial (NYSE: RF) to Sell from Hold as they believe fundamentals are not in-line with the current valuation following the recent rally.
  • Merrill lowered their General Electric (NYSE: GE) estimates below consensus and downgraded shares to Neutral from Buy citing increased fundamental pressures on the company's GE Capital unit. GE's target was cut to $28 from $37.50.

Continue reading Analyst calls: NVS, DWA, APC, RF, GE, MTB, BYD, NWL ...

Analyst initiations: Advanced Analogic, Navios Maritime, Lockheed Martin

MOST NOTEWORTHY: Advanced Analogic, Navios Maritime and Lockheed Martin were today's noteworthy initiations:
  • JMP Securities started shares of Advanced Analogic (NASDAQ: AATI) with a Market Outperform rating and $13 target, as they are positive on AATI's increasing margins driven by proprietary portable power management designs and cost-effective manufacturing technology.
  • Cantor assumed coverage of Navios Maritime (NYSE: NMM) with a Buy rating and $21 target and believes the company's focus on long-term charter contracts and substantially fixed operating costs helps provide clear earnings visibility to support its dividend policy.
  • American Technology views Lockheed Martin (NYSE: LMT) as a compelling long-term investment opportunity given the overall predictability of the sector and an attractive valuation. The firm initiated shares with a Buy rating and $129 target.
OTHER INITIATIONS:

Analyst upgrades 5-23-07: COP, FRX, SPLS and SUNW

MOST NOTEWORTHY: Staples, Inc (SPLS), Sun Microsystems, Inc (SUNW), Forest Laboratories, Inc (FRX), AvalonBay Communities (AVB) and ConocoPhillips (COP) were today's noteworthy upgrades:
  • Soleil upgraded shares of Staples, Inc (NASDAQ: SPLS) to Buy from Hold following the in-line Q1 results, as the firm believes management's initiatives will benefit the company for the remainder of the year.
  • Matrix upgraded Sun Microsystems (NASDAQ: SUNW) to Hold from Sell based on improved profitability and margins due to cost cuts.
  • First Albany upgraded Forest Laboratories (NYSE: FRX) to Strong Buy from Neutral following positive preliminary results for Milnacipran in Fibromyalgia.
  • Bernstein upgraded shares of ConocoPhillips (NYSE: COP) to Outperform from Market Perform...
OTHER UPGRADES:
  • Piper Jaffray upgraded Medtronic, Inc (NYSE: MDT) to Outperform from Market Perform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 02:14 AM

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