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Analyst upgrades 8-08-07: BBY, CSCO, THC and WMG

Posted Aug 8th 2007 10:46AM by Kevin Shult (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Good news, Cisco Systems (CSCO), Best Buy (BBY), Stocks to Buy

MOST NOTEWORTHY: Cisco Systems (CSCO), Finisar Corp (FNSR), Tenet Healthcare (THC), Best Buy (BBY) and Cascade Corp (CAE) were today's noteworthy upgrades:

Bear Stearns upgraded shares of Cisco Systems (NASDAQ: CSCO) to Outperform from Peer Perform, with a $36 target, after the quarterly results as they believe revenue growth is sustainable and diversified. Bear expects Cisco to benefit from significant new product cycles over the next two years and believes investments in emerging markets are beginning to pay off.

Merriman upgraded Finisar (NASDAQ: FNSR) to Buy from Neutral to reflect the improved outlook at their top customer, Cisco.

Tenet Healthcare (NYSE: THC) was upgraded to Hold from Sell at Stifel, as the firm expects shares to remain range bound.

Pali Capital raised shares of Best Buy (NYSE: BBY) to Buy from Neutral with a $55 target on valuation as they believe the bad news is already priced in.

Cascade (NYSE: CAE) was upgraded to Market Perform from Underperform at Rodman & Renshaw on valuation.

OTHER UPGRADES:

Warner Music (NYSE: WMG) was upgraded to Buy from Sell with a $13 target at Citigroup.

Citigroup also upgraded shares of Copa Holdings (NYSE: CPA) to Buy from Hold with a $71 target.

Baird upgraded shares of Parkway Properties (NYSE: PKY) to Outperform from Neutral on valuation.

Computer Sciences (NYSE: CSC) was raised to Hold from Underperform at Jefferies on valuation and improvement in bookings.

Morgan Stanley upgraded ABB Ltd (NYSE: ABB) to Overweight from Equal Weight.

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

Analyst initiations 6-29-07: ASFI and CMG

Posted Jun 29th 2007 10:25AM by Kevin Shult (RSS feed)
Filed under: Chipotle Mexican Grill'A' (CMG), Analyst Initiations

MOST NOTEWORTHY: The educational services industry, the Latin American airlines sector, Asta Funding Inc (NASDAQ: ASFI) and Chipotle Mexican Grill Inc (NYSE: CMG) were today's noteworthy initiations:

William Blair assumed coverage of Apollo Group Inc (NASDAQ: APOL) and Strayer Education Inc (NASDAQ: STRA) with Outperform ratings and Career Education Corporation (NASDAQ: CECO) with a Market Perform rating. The broker also assumed coverage and downgraded DeVry Inc (NYSE: DV) to Market Perform from Outperform.
Goldman Sachs initiated coverage on Copa Holdings (NYSE: CPA) with a Buy rating and $88 target, GOL Linhas Aereas Inteligentes SA (NYSE: GOL) and TAM SA (NYSE: TAM) with Neutral ratings and Lan Airlines SA (NYSE: LFL) with a Sell rating and $93 target; Lan Airlines was also initiated at Morgan Stanley with an Overweight rating and $105 target.
Asta Funding was initiated at Kaufman Brothers with a Buy rating and $55 target. The firm believes the company should grow earnings at a midpoint of 20% over time, with near-term growth at 15% and longer-term growth at 20%-25%.
Citigroup initiated shares of Chipotle Mexican Grill with a Buy rating and $100 target, as the firm expects the company will see unit growth at a rate in the high-teens while experiencing above-average SSS and some margin expansion.

OTHER INITIATIONS:

BMO Capital initiated shares of CDC Corp (NASDAQ: CHINA) with a Market Perform rating and $11 target.
Jazz Technologies Inc (NYSE: JAZ) was initiated with a Buy rating and $5 target at Wedbush Morgan Securities.
Calyon Securities initiated shares of Pinnacle Entertainment Inc (NYSE: PNK) with an Add rating and $32 target.
Luminex Corporation (NASDAQ: LMNX) was initiated with a Buy rating at Pacific Growth Equities.