Analyst Upgrades

• Alcatel-Lucent (ALU) to buy from neutral at Goldman.
• Nvidia (NVDA) to outperform from market perform at JMP Securities.
• Verizon (VZ), AT&T (T), Leap Wireless (LEAP) and MetroPCS (PCS) to outperform from neutral at RW Baird.
• Illumina (ILMN) to buy from hold at Auriga.
• Sun Bancorp (SNBC) to neutral from sell at Janney Capital.
• American Tower (AMT), SBA Communications (SBAC) and Freeport McMoRan (FCX) to overweight from equal weight at Morgan Stanley.

Continue reading Analyst Calls: ALU, BTU, FCX, LEAP, MAR, NTRS, NVDA, PCS, T, VZ ...

Analyst Calls: ALU, BTU, FCX, LEAP, MAR, NTRS, NVDA, PCS, T, VZ ... originally appeared on BloggingStocks on Mon, 28 Mar 2011 12:00:00 EST. Please see our terms for use of feeds.

Yesterday's announcement of the AT&T (T) and T-Mobile deal gives both companies a clear "win" in the telecommunications sector. Who are the "losers"?

The tower companies have experienced downward pressure today, with American Tower (AMT) currently trading down over 8%, SBA Communications (SBAC) currently down over 10%, and Crown Castle International (CCI) currently hovering down almost 5%.

Continue reading Losers of the AT&T T-Mobile Deal

Losers of the AT&T T-Mobile Deal originally appeared on BloggingStocks on Mon, 21 Mar 2011 17:10:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Exxon Mobil (XOM), Netflix (NFLX), Noble Corp. (NE), Pioneer Natural (PXD) and Noble Energy (NBL) to buy from neutral at Goldman.
• Cenovus Energy (CVE) to conviction buy from neutral and Atwood Oceanics (ATW) to neutral from sell at Goldman as well.
• Southern Company (SO) to buy from hold at Citigroup.
• Chevron (CVX) to buy from neutral at BofA/Merrill.
• Ryder (R), Entergy (ETR) and Seaspan (SSW) to buy from hold at Jefferies.
• Gerdau (GGB), Crown Castle (CCI) and American Tower (AMT) to buy from neutral at UBS.
• Aon (AON) and Willis Group (WSH) to buy from neutral at Janney Capital.
• Ryland Group (RYL) to buy from neutral at Ticonderoga.

Continue reading Analyst Calls: AON, CVX, HBI, MUR, NBL, NFLX, NVDA, SO, XOM ...

Analyst Calls: AON, CVX, HBI, MUR, NBL, NFLX, NVDA, SO, XOM ... originally appeared on BloggingStocks on Tue, 15 Mar 2011 13:00:00 EST. Please see our terms for use of feeds.

Most Americans go to an ATM to obtain some cash, but in the years ahead an AMT may dispense you some cash, as well, if you purchase shares in American Tower Corporation (AMT).

American Tower manages the largest independent portfolio of wireless communications and broadcast towers in North America. AMT currently manages more than 33,000 towers.

American T leases space on multi-tenant communications towers to wireless service providers, and radio/TV companies.

Continue reading Consider American Tower, Because It's Becoming a Wireless World

Consider American Tower, Because It's Becoming a Wireless World originally appeared on BloggingStocks on Fri, 25 Feb 2011 17:30:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Diamond Offshore (DO) to conviction buy from sell and Baker Hughes (BHI) to buy from neutral at Goldman.
• Frontier Communications (FTR) to outperform from market perform at Wells Fargo.
• Syntel (SYNT) to outperform from market perform at Wells Fargo, to buy from hold at Deutsche Bank and to buy from neutral at Janney Capital.
• Kulicke & Soffa (KLIC) and Fiserv (FISV) to outperform from perform at Oppenheimer.
• 3M (MMM) to neutral from underweight and Tyco (TYC) to overweight from neutral at JPMorgan.
• Collective Brands (PSS) and Nordstrom (JWN) to overweight from equal weight, as well as Foot Locker (FL) to equal weight from underweight, at Morgan Stanley.
• Amazon.com (AMZN) to buy from hold at Lazard Capital.
• Yamana Gold (AUY) to outperform from neutral at Credit Suisse.

Continue reading Analyst Calls: APC, AMZN, CME, DO, GPS, H, JCP, JWN, KSS, PM SYNT ...

Analyst Calls: APC, AMZN, CME, DO, GPS, H, JCP, JWN, KSS, PM SYNT ... originally appeared on BloggingStocks on Fri, 07 Jan 2011 11:20:00 EST. Please see our terms for use of feeds.

"Our latest featured breakout stock is American Tower (AMT), which recently moved to a new 10-year high," says Leo Fasciocco.

The editor of Ticker Tape Digest, who focuses on stocks breaking out of technical basing patterns, explains, "With annual revenues of $1.9 billion, the company operates wireless communications towers, broadcast communications towers and distributed antenna system networks.

"The firm's wireless and broadcast towers consisted of towers that it owned and towers that it operated pursuant to long-term lease arrangements. They include 20,000 towers in the U.S. and 7,000 towers in Mexico, Brazil and India.

Continue reading American Tower (AMT): Wireless Breakout

American Tower (AMT): Wireless Breakout originally appeared on BloggingStocks on Tue, 23 Nov 2010 10:30:00 EST. Please see our terms for use of feeds.

Continue reading Before the Bell: Stocks to End Year on High Note

Before the Bell: Stocks to End Year on High Note originally appeared on BloggingStocks on Thu, 31 Dec 2009 08:23:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Citigroup upgraded Deutsche Bank (NYSE: DB) to Hold from Sell citing reduced legacy risks and strength in the fixed income franchise.
• Janney Montgomery upgraded Fuel Systems (NASDAQ: FSYS) to Buy from Neutral based on valuation, the OEM market in Europe for alternative transportation is growing faster than expected, and the $30M equity raise was smaller than expected.
• Freeport McMoRan (NYSE: FCX) was upgraded to Outperform from Market Perform by FBR Capital. The firm believes that the company will benefit from copper supply issues over the long term, and it thinks the stock has reached an attractive entry point.
• Black & Decker (NYSE: BDK) was upgraded to Neutral from Underperform at Credit Suisse.
• American Tower (NYSE: AMT) was raised to Overweight from Neutral at JPMorgan.
• EMC Corp. (NYSE: EMC) was upgraded at Barclays to Overweight from Equal Weight.

Continue reading Analyst upgrades, downgrades and initiations: BA, DB, EMC, FCX, JCI, VZ ...

Analyst upgrades, downgrades and initiations: BA, DB, EMC, FCX, JCI, VZ ... originally appeared on BloggingStocks on Wed, 24 Jun 2009 11:45:00 EST. Please see our terms for use of feeds.

• Jefferies upgraded Abiomed (NASDAQ: ABMD) to Hold from Underperform on valuation as it believes concerns over the company's Impella heart pump are priced in at current levels. The firm lowered its target price to $7 from $8.
  
• Suntrust upgraded Somanetics (NASDAQ: SMTS) to Neutral from Reduce. The firm believes most of the risk is out of Somanetics shares and that the Q1 report could be a positive catalyst.
  
• Banc of America/Merrill upgraded shares of Telecom Italia (NYSE: TI) to Buy from Neutral on valuation and believes the company's revenue trends are improving.
• China Petroleum & Chemical (NYSE: SNP) was raised to Buy from Neutral at UBS.
• Hexcel (NYSE: HXL) and Johnson Controls (NYSE: JCI) were upgraded to Buy from Neutral at Goldman.

Continue reading Analyst upgrades, downgrades and initiations: ABMD, TI, DKS, SCHW ...

Analyst upgrades, downgrades and initiations: ABMD, TI, DKS, SCHW ... originally appeared on BloggingStocks on Thu, 12 Mar 2009 11:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• RBC Capital upgraded American Tower (NYSE:AMT), Crown Castle( NYSE::CCI), SBA Comm (NASDAQ:SBAC) to Outperform from Sector Perform citing recent weakness in the tower sector group and a continued favorable outlook.
  
• Merrill upgraded shares of Tesco (Other OTC:TSCDY) to Buy from Neutral as they believe it is the only proven growth stock in the sector.
  
• Soleil upgraded shares of Alcoa (NYSE:AA) to Hold from Sell on valuation following the recent weakness.

• Arch Coal (NYSE:ACI) and Peabody Energy (NYSE:BTU) were upgraded to Buy from Hold at Citigroup.
  
• L-3 Comm (NYSE:LLL) was raised to Outperform from Neutral at Cowen.
  
• Jacobs Engineering (NYSE:JEC) was lifted to Buy from Hold at Morgan Joseph.

Analyst upgrades: Tower sector stocks, TSCDY and AA originally appeared on BloggingStocks on Thu, 03 Jul 2008 11:32:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Hotels, Continental AG and VNUS Medical were today's noteworthy downgrades:

• Oppenheimer downgraded shares of Marriott International (NYSE: MAR), Intercontinental Hotels (NYSE: IHG) and Choice Hotels (NYSE: CHH) to Perform from Outperform to reflect recent weakness in the leisure segment and expectations for weakening transient business travel.
  
• Societe Generale downgraded shares of Continental AG (OTC: CTTAY) to Sell from Buy on valuation, as they recommend taking profits following the recent rally.
  
• Piper downgraded shares of VNUS Medical (NASDAQ: VNUS) to Neutral from Buy on valuation following the company's patent victory.

OTHER DOWNGRADES:

• Goldman removed China Netcom (NYSE: CN) from the Conviction Buy List.
  
• RBC Capital downgraded Crown Castle (NYSE: CCI) and American Tower (NYSE: AMT) to Sector Perform from Outperform.
  
• Trimble Navigation (NASDAQ: TRMB) was cut to Neutral from Overweight at JP Morgan.

Analyst downgrades: Hotels, Continental AG, VNUS Medical originally appeared on BloggingStocks on Wed, 04 Jun 2008 12:36:00 EST. Please see our terms for use of feeds.

"I am recommending shares of American Tower (NYSE: AMT), a leader in the wireless transmission space," says industry expert Nikhil Hutheesing.

The editor of The Forbes Wireless Stock Watch explains, "The stock is down, the company has top notch customers, strong free cash flow, a growing business within the U.S. and increasingly, its building up its business in emerging markets. AMT is a strong company with strong prospects."

"American Tower, based in Boston, is the leader in the wireless tower business. These towers are essentially real-estate for antennae of wireless service providers. The service providers need the towers because their antennae must be elevated so that their signals propagate, allowing their networks to provide wireless coverage.

"The good news, is that this is a growing business. American Tower's CEO just recently said that he expects 2008 to be one of the best years ever for American Tower. That, of course, is great news.

"It also means that it is very likely that the company's subscriber base will also continue to grow at a steady pace. Among its subscribers are wireless service providers-companies such as Verizon, Sprint Nextel and AT&T.

Continue reading Forbes wireless expert: American Tower (AMT) poised to rise

Forbes wireless expert: American Tower (AMT) poised to rise originally appeared on BloggingStocks on Thu, 13 Mar 2008 14:22:00 EST. Please see our terms for use of feeds.

This is pretty crazy: American Tower (NYSE: AMT) has sued former Goldman Sachs executive Jide Zeitlin, alleging that he forwarded a negative article on the stock to two top institutional investors following the company -- and used CEO Jame Taiclet's name in the sender line, creating the impression that it was him forwarding the article.

According to the Wall Street Journal, "Mr. Zeitlin left Goldman Sachs in 2005 and later founded Independent Mobile Infrastructure Ltd., a closely held rival of American Tower that owns, leases and operates wireless towers in India ... The complaint alleges that Mr. Zeitlin also provided Fortune reporter Bethany McLean with information for the article, which looked at the company's executive-compensation practices."

Mr. Zeitlin is accused of computer fraud and defamation. The suit alleges that the email "was part of a longstanding and ongoing pattern of conduct intended to undermine American Tower's relationships with its investors and its position in the mobile infrastructure marketplace to the defendants' benefit."

The merits of the lawsuit aside, it certainly appears -- if the reports are correct -- that Mr. Zeitlin, who is on the board of directors at Coach and is chairman of the board at Amherst College, may have behaved badly.

Question is whether pursuing such a lawsuit against a competitor who may have engaged in a fairly childish ploy to undermine the company, is really a worthwhile use of shareholder capital, legal fees and management's time? I'm not so sure.

American Tower accuses competitor of spooky scheme originally appeared on BloggingStocks on Wed, 02 Jan 2008 14:12:00 EST. Please see our terms for use of feeds.

'Score one for the barbarians' as tax on private equity is shot down originally appeared on BloggingStocks on Fri, 07 Dec 2007 13:38:00 EST. Please see our terms for use of feeds.

I admire the cleverness of Iowa Republican Senator Chuck Grassley's tax proposal. Bloomberg News reports that Grassley wants to introduce a bill that will link passage of a tax increase on private equity firms to an Alternative Minimum Tax (AMT) tax cut.

Grassley's proposal would increase from 15% to as high as 37.9% the tax rate that private equity firms pay on their profits with a measure shielding 23 million mostly middle-income households from an AMT increase this year. Unless Congress acts, the AMT will impose a $45 billion tax increase on 23 million households in 2007; permanently repealing the AMT would cost the government more than $1 trillion in revenue.

While it's not clear how much additional revenue the private equity tax rate increase would raise, the politics of the linkage is clever. That's because it will be hard for politicians seeking reelection to vote against a measure that could ease the lives of 23 million potential voters. If they happen to at the same time raise the taxes of those big campaign contributors, the need to help middle class AMT voters will offer the politicians some cover.

Peter Cohan is president of Peter S. Cohan & Associates He also teaches management at Babson College and edits The Cohan Letter.

Chuck Grassley's clever tax gambit originally appeared on BloggingStocks on Wed, 08 Aug 2007 12:50:00 EST. Please see our terms for use of feeds.

At tax time, the AMT can hurt originally appeared on BloggingStocks on Mon, 09 Apr 2007 13:28:00 EST. Please see our terms for use of feeds.