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Analyst downgrades: NTRI, ENDP, CXP, AVR and BIOF

Posted Oct 4th 2007 11:00AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Hansen Natural (HANS)

MOST NOTEWORTHY: NutriSystem, Endo Pharmaceuticals, Corporate Express NV, Aventine Renewable Energy Holdings and BioFuel Energy were today's noteworthy downgrades:

NutriSystem (NASDAQ: NTRI) was downgraded to Hold from Buy at Lazard and to Buy from Strong Buy at Broadpoint following its lowered Q3 guidance.
Jefferies downgraded shares of Endo Pharmaceuticals (NASDAQ: ENDP) to Hold from Buy after Impax Laboratories (NASDAQ: IPXL) filed a Paragraph IV challenge against Opana ER yesterday to reflect the potential for a generic version of Opana ER arriving as early as 2010 and the possibility of a similar threat against Lidoderm.
Corporate Express (NYSE: CXP) was downgraded to Hold from Buy at ING, as they believe the new CEO's long-term targets are overly ambitious.
JP Morgan downgraded Aventine Renewable (NYSE: AVR) and BioFuel Energy (NASDAQ: BIOF) to Neutral from Overweight, citing weaker fundamentals in ethanol pricing.

OTHER DOWNGRADES:

JP Morgan downgraded Charlotte Russe (NASDAQ: CHIC) and The Wet Seal (NASDAQ: WTSLA) to Neutral from Overweight.
Goldman downgraded Monolithic Power Systems (NASDAQ: MPWR) and Hansen Natural (NASDAQ: HANS) to Neutral from Buy; Goldman removed National Semiconductor (NYSE: NSM) from its Conviction Buy List.

Analyst initiations 7-25-07: BIOF, ERTS and TTWO

Posted Jul 25th 2007 11:33AM by Kevin Shult (RSS feed)
Filed under: Analyst Reports, Electronic Arts (ERTS), Analyst Initiations

MOST NOTEWORTHY: VeraSun Energy (VSE), BioFuel Energy (BIOF), Electronic Arts (ERTS) and Take-Two Interactive Software (TTWO) were today's noteworthy initiations:

Citigroup initiated shares of VeraSun Energy (NYSE: VSE) and BioFuel Energy with Buy ratings, as the firm believes the ethanol industry is reaching an inflection point as profitability should be much improved in 2008.

BioFuel (NASDAQ: BIOF) was also initiated with a Hold rating at AG Edwards on valuation and an Overweight rating at JP Morgan, who believes BioFuel has good growth prospects but trades at a discount relative to peers.

Electronic Arts (NASDAQ: ERTS) was initiated with a Neutral rating at Cowen, citing the company's rich valuation and mixed growth outlook.

Cowen resumed coverage of Take-Two Interactive Software (NASDAQ: TTWO) with an Outperform rating, as the firm believes TTWO is positioned for a strong 2H07 given the Grand Theft Auto IV and other titles...

OTHER INITIATIONS:

CDC Corporation (NASDAQ: CHINA) was initiated with a Buy rating and $12 target at Montgomery.

Oppenheimer started shares of Chelsea Therapeutics (NASDAQ: CHTP) with a Buy rating and $12 target.

Banc of America initiated shares of Charming Shoppes (NASDAQ: CHRS) with a Neutral rating and $11 target.

Raymond James initiated shares of Geokinetics (AMEX: GOK) with a Market Perform rating.

King Pharmaceuticals (NYSE: KG) was initiated at Goldman Sachs with a Neutral rating and $19 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

IPO & secondary weekly preview: Blackstone Group, Hertz, Omniture

Posted Jun 11th 2007 10:10AM by Joseph Lazzaro (RSS feed)
Filed under: SEC Filings, Other Issues, Deals, Blackstone Group L.P (BX)

Wall Street's equity market offers a solid slate this week - with five IPOs and ten Secondaries on the docket.

Those deals tentatively scheduled to price include:

IPOs:

Day Undetermined:
- The Blackstone Group (BX), a 133.3M-share IPO. Morgan Stanley and Citigroup are the lead managers. Filing range: $29.00-$31.00.
Tuesday
- Biofuel Energy (BIOF), a 9.5M-share IPO for this ethanol company. JP Morgan Chase, Citigroup, and AG Edwards are the lead managers. Filing range: $16.00-$18.00.
Wednesday
- Bway (BWY), an 11.765M-share IPO for this container company. Goldman Sachs and the Bank of America are the lead managers. Filing range: $16.00-$18.00.
- GeoVera Insurance (GEOV), a 5.99M-share IPO for this residential insurance company. JP Morgan Chase and Merrill Lynch are the lead managers.
Thursday
- Aegerion Pharmaceuticals (AEGR), a 5M-share IPO for this cardiovascular medicines company. Lehman Brothers is the lead manager. Filing range: $12.00-$14.00.