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

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.
  • Jefferies downgraded Tenet Healthcare (NYSE: THC) to Underperform from Hold with a $5.50 target to reflect weak volumes.
OTHER DOWNGRADES: Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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

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:
  • Goldman Sachs started CenturyTel, Inc (NYSE: CTL) with a Sell rating and $42 target on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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

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.
  • Cowen added Ericsson Telephone Co (NASDAQ: ERIC) and Oracle Corp (NASDAQ: ORCL) to its Focus List.
  • Matrix USA upgraded J.C. Penney Co Inc (NYSE: JCP) to Strong buy from Buy with an intrinsic value of $115.
  • Wedbush upgraded LSI Logic Corp (NYSE: LSI) to Buy from Hold with a $13 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+20.0310,246.97
NASDAQ-2.982,151.08
S&P 500-0.071,093.01

Last updated: November 11, 2009: 08:51 AM

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