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Analyst downgrade 5-09-07: CSCO, ERTS, MDRX, MVL and THC

Posted May 9th 2007 11:26AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Cisco Systems (CSCO), Electronic Arts (ERTS)

MOST NOTEWORTHY: Marvel Entertainment, Inc (MVL), Electronic Arts Inc (ERTS), ION Media Networks Inc (ION), Allscripts Healthcare Solutions, Inc (MDRX) and Tenet Healthcare Corp (THC) were today's noteworthy downgrades:

JP Morgan downgraded Marvel Entertainment (NYSE: MVL) to Neutral from Overweight based on the lack of near-term catalysts.

Gabelli downgraded Electronic Arts (NASDAQ: ERTS) to Hold from Buy on reduced 2008 expectations. The firm expects Electronic to lose market share given the lack of Q1 product launches.

CRT downgraded ION Media Networks (AMEX: ION) to Sell from Buy and recommends taking profits at these levels as shares are approaching Citadel LP's offer of $1.46 per share.

BB&T cut Allscripts Healthcare Solutions, Inc (NASDAQ: MDRX) to Hold from Buy after its weak Q1 report.

Jefferies downgraded Tenet Healthcare (NYSE: THC) to Underperform from Hold with a $5.50 target to reflect weak volumes.

OTHER DOWNGRADES:

Brooks Automation, Inc (NASDAQ: BRKS) was cut to Peer Perform from Outperform at Bear Stearns.

Prudential downgraded AngloGold Ashanti Ltd (NYSE: AU) to Neutral from Overweight.

JP Morgan downgraded Jeffries Group, Inc (NYSE: JEF) to Market Perform to Outperform at Keefe Bruyette.

Pacific Crest cut Cisco Systems, Inc (NASDAQ: CSCO) to Sector Perform from Outperform on valuation.

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

Analyst initiations 5-07-07: BRKS, DAL and GR

Posted May 7th 2007 11:32AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Initiations, Delta Air Lines (DAL)

MOST NOTEWORTHY: Delta Air Lines, Inc (DAL), Goodrich Corp (GR), Opnext, Inc (OPXT), Terex Corp (TEX) and Aruba Networks (ARUN) topped today's most noteworthy initiations list:

UBS started shares of Delta Air Lines Inc (NYSE: DAL) with a Reduce rating and $17 target on valuation and management's overly optimistic outlook.

Deutsche Bank prefers to wait of a better entry point for Goodrich Corp (NYSE: GR) and initiated shares with a Hold rating.

Opnext Inc (NASDAQ: OPXT) was initiated at JP Morgan with a Neutral rating citing concerns regarding new transceiver margins.

Prudential believes Terex Corp (NYSE: TEX) is well positioned to take advantage of strong sustainable growth in the global infrastructure and mining markets over at least the rest of the decade, starting shares with an Overweight rating.

RBC Capital started Aruba Networks (NASDAQ: ARUN) with a Sector Perform rating while Lehman Bros initiated Aruba with an Overweight rating.

OTHER INITIATIONS:

Deutsche Bank started Delta Petroleum Corp (NASDAQ: DPTR) with a Buy rating and $27 target.

JMP Securities started Hersha Hospitality Trust (AMEX: HT) with an Outperform rating and $14 target.

Credit Suisse assumed coverage of Interline Brands, Inc (NYSE: IBI) with an Outperform rating and $34 target.

Credit Suisse reinstated Brooks Automation, Inc (NASDAQ: BRKS) with a Neutral rating.

Goldman Sachs started CenturyTel, Inc (NYSE: CTL) with a Sell rating and $42 target on valuation.

B. Riley initiated Insteel Industries, Inc (NASDAQ: IIIN) with a Buy rating and $24 target.

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

Analyst upgrades 2-26-07: Raise your glass to Coca-Cola

Posted Feb 26th 2007 11:50AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, Coca-Cola (KO), Penney (J.C.) (JCP), Research in Motion (RIMM), Oracle Corp (ORCL), Merck and Co (MRK)

MOST NOTEWORTHY: The Coca-Cola Co (KO), Merck & Co (MRK) and National Semiconductor (NSM) were some of today's more notable upgrades:

The Coca-Cola Co (NYSE: KO) was upgraded to Buy from Hold with a $57 target at Deutsche Bank based on valuation.

Merck & Co (NYSE: MRK) was upgraded to Buy from Hold at Citigroup to reflect the firm's bullish outlook for the company's diabetes drug, Januvia. Citigroup believes the drug will help drive above-consensus earnings following its recent diabetes survey.

National Semiconductor (NYSE: NSM) was upgraded to Strong Buy from Market Perform at Raymond James.

OTHER UPGRADES:

Robert W. Baird upgraded shares of Comverse Technology (NASDAQ: CMVT) to Outperform from Neutral based on valuation and potential catalysts that include a possible break-up of the company.

RBC upgraded Research in Motion (NASDAQ: RIMM) to Outperform from Sector Perform with a $180 target, as checks indicate shipment and sub-momentum from the company's product cycle will be significantly greater than anticipated.

Kellogg (NYSE: K) was added to Lehman Brothers' Favorites List.

Stanford upgraded Brooks Automation (NASDAQ: BRKS) to Buy from Hold with a $20 target on improved industry conditions, cash generation and valuation.