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Analyst upgrades, downgrades and initiations: AXP, CAT, BMY, GNK, TXCO ...

Analyst upgrades:
  • Societe Generale upgraded shares of Veolia Environment (NYSE: VE) to Buy from Hold as they believe the company's new finance chief implement additional cost savings.
  • Citigroup upgraded shares of Sun Healthcare (NASDAQ: SUNH) to Buy from Hold and added the stock to their Top Picks Live List as they believe the market is pricing in a more severe Medicaid and Medicare reimbursement outlook than is probable. The firm has a $14 target on the stock.
  • Calyon believes in 2010, American Express (NYSE: AXP) will have easy comps, reserve releases, and income statement leverage. The firm upgraded shares to Outperform from Underperform.
  • Societe Generale (OTC: SCGLY) was upgraded to Buy from Hold at Citigroup.
  • Caterpillar (NYSE: CAT) was raised to neutral from Sell at UBS.
  • Goldman upgraded Biogen Idec (NASDAQ: BIIB) to Buy from Neutral and added shares to the Conviction Buy List; Goldman also added Bristol-Myers (NYSE: BMY) to the Conviction Buy List.

Continue reading Analyst upgrades, downgrades and initiations: AXP, CAT, BMY, GNK, TXCO ...

Analyst calls: ING, WFC, DLTR, JBL, AMLN, ECL, KO, IACI, FFIV ...

Analyst upgrades:
  • Keefe Bruyette upgraded shares of ING Group (NYSE: ING) to Outperform from Market Perform after upgrading the European insurance sector to Overweight from Neutral due to improved risk management.
  • Keefe Bruyette also upgraded Wells Fargo (NYSE: WFC) to Market Perform from Underperform to reflect the company's national footprint if the Wachovia (NYSE: WB) deal goes through.
  • JP Morgan upgraded Dollar Tree (NASDAQ: DLTR) to Overweight from Neutral citing top line performance, growth profile and valuation, among other reasons.
  • Jabil Circuit (NYSE: JBL) was upgraded to Outperform from Neutral at Credit Suisse.
  • Amylin Pharma (NASDAQ: AMLN) was raised to Hold from Sell at Citigroup.
  • Louisiana Pacific (NYSE: LPX) was upgraded at RBC Capital to Sector Perform from Underperform.
Analyst downgrades:
  • Jefferies downgraded shares of Ecolab (NYSE: ECL) to Hold from Buy and lowered its target to $50 from $55 to reflect risks to the company's earnings outlook from the weakening economy.
  • Coca-Cola (NYSE: KO) was cut to Hold from Buy at Deutsche Bank as they believe the economic slowdown will bring slower volumes. Coca-Cola's target was lowered to $56 from $64.

Continue reading Analyst calls: ING, WFC, DLTR, JBL, AMLN, ECL, KO, IACI, FFIV ...

Analyst upgrades, downgrades and initiations: MET, COST, WAG, CAG...

Analyst upgrades:
  • Keefe Bruyette upgraded MetLife (NYSE: MET) to Outperform from Market Perform as they believe the company's capital and liquidity profile are very solid relative to this week's sell-off.
  • The firm also upgraded shares of MSCI (NYSE: MXB) to Outperform from Market Perform on valuation as they believe near-term challenges are already priced into shares.
  • Burlington Northern (NYSE: BNI) was raised to Overweight from Neutral at JP Morgan based on valuation and strong pricing outlook.
  • Costco (NASDAQ: COST) was upgraded to Buy from Neutral at Goldman.
  • Pali Capital lifted Virgin Mobile (NYSE: VM) to Neutral from Sell.
  • Merrill upgraded Pall (NYS: PLL) and Xcel Energy (NYSE: XEL) to buy from Neutral.
Analyst downgrades:
  • Oppenheimer downgraded shares of Trimble Navigation (NASDAQ: TRMB) to Perform from Outperform as they believe the company's Engineering and Construction division is facing a challenging period due to the credit market strain.
  • Stephens downgraded Seacoast Banking (NASDAQ:SBCF) to Underweight from Equal Weight as they believe a dilutive capital raise is possible given future losses from real estate credits in coastal Florida.

Continue reading Analyst upgrades, downgrades and initiations: MET, COST, WAG, CAG...

Analyst initiations: INTC, GLW, BTUI and RMG

MOST NOTEWORTHY: Corning, BTU International and RiskMetricks were today's noteworthy initiations:
  • ThinkPanmure believes Corning (NYSE: GLW) is well-positioned to benefit from increased penetration of LCD panels into televisions, flat panel monitors, notebooks, and mobile handsets. Shares were initiated with an Accumulate rating and $31 target.
  • Thomas Weisel said BTU International (NASDAQ: BTUI) is seeing strong order trends for the company's high margin solar sales in its in-line diffusion furnace and metallization products. The firm started shares with an Overweight rating and $15 target.
  • RiskMetrics (NYSE: RMG) was assumed at JMP Securities with an Ootperform rating and $26 target. The firm expects RMG to benefit from greater focus on managing portfolio risk and on corporate governance issues.
OTHER INITIATIONS:
  • Intel (NASDAQ: INTC) was initiated at ThinkPanmure with a Buy rating and $29 target.
  • Gen-Probe (NASDAQ: GPRO) was assumed at William Blair with an Outperform rating.
  • Baird initiated BJ's Restaurants (NASDAQ: BJRI) with a Neutral rating and $13 target.

Symbol Lookup
IndexesChangePrice
DJIA+6.8810,233.82
NASDAQ-5.172,148.89
S&P 500-1.201,091.88

Last updated: November 10, 2009: 11:59 AM

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