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Analyst upgrades, downgrades and initiations: AXP, CL, DLTR, PG, RIMM, UAUA ...

Analyst upgrades:

  • FBR Capital upgraded McAfee (NYSE: MFE) to Outperform from Market Perform after channel checks indicated the company's September quarter deal flow has been stronger than expected. FBR raised its target on shares to $50 from $41.
  • Thomas Weisel upgraded Adtran (NASDAQ: ADTN) to Overweight from Market Weight, citing increased wireless backhaul capex spending by Tier-1 carriers. The firm raised its target to $32 from $21.
  • RBC Capital upgraded Brunswick (NYSE: BC) to Outperform from Sector Perform as the firm thinks the company no longer has liquidity risk and can generate significant profits by 2012. The firm set a $17 target on the stock.
  • Bronco Drilling (NASDAQ: BRNC) was upgraded to Hold from Underperform at Jefferies.
  • LSI Corp. (NYSE: LSI) was upgraded to Buy from Hold at Deutsche Bank.
  • UBS upgraded U.S. Airways (NYSE: LCC) and UAL Corp. (NASDAQ: UAUA) to Buy from Neutral.

Continue reading Analyst upgrades, downgrades and initiations: AXP, CL, DLTR, PG, RIMM, UAUA ...

Analyst upgrades, downgrades and initiations: KWK, BCS, CVS, BAC ...

Analyst upgrades:
  • Jefferies upgraded Quicksilver (NYSE: KWK) to Buy from Hold as it believes the company has many options to resolve its liquidity crisis. The firm expects shares to move towards its $10 NAV estimate and raised its target price to $10 from $7.
  • Deutsche Bank upgraded Omnicom Group (NYSE: OMC) to Hold from Sell following the Q1 results as the company's margins are holding up better than previously thought. The firm raised its target price on shares to $31 from $21.
  • Deutsche Bank also upgraded Universal Health (NYSE: UHS) following the company's better than expected Q1 results. Shares were lifted to Buy from Hold and the firm raised its target on the stock to $60 from $45.
  • Barclays (NYSE: BCS) was raised to Buy from Reduce at Nomura.
  • Orient-Express (NYSE: OEH) was lifted to Neutral from Underweight at JP Morgan.
  • CVS Caremark (NYSE: CVS) was upgraded at Goldman to Conviction Buy from Buy.

Continue reading Analyst upgrades, downgrades and initiations: KWK, BCS, CVS, BAC ...

Market highlights for next week: Tyson (TSN), Wal-Mart (WMT) and Home Depot (HD) to report

Monday, November 12
  • Veterans' Day holiday.
  • Tyson Foods (NYSE: TSN) to report Q4 earnings. They are holding a conference call at 9am and a business update later at 10:45am.
Tuesday, November 13
  • Wal-Mart Stores (NYSE: WMT) to report Q3 earnings; pre-recorded conference call at 7am.
  • Home Depot (NYSE: HD) to report Q3 earnings; conference call at 9am.
  • Fed Reserve Governor Randall Kroszner is the Keynote Speaker at Standard & Poor's Banking Conference in New York at 1pm.
Wednesday, November 14
  • Fed Reserve Chairman Ben Bernanke is the Keynote Speaker at Cato Institute Annual Monetary Conference at 9:10am.
  • Macy's (NYSE: M) to report Q3 earnings; conference call at 10:30am.
Thursday, November 15
Friday, November 16

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

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:

Symbol Lookup
IndexesChangePrice
DJIA-17.2410,433.71
NASDAQ-6.832,169.18
S&P 500-0.591,105.65

Last updated: November 25, 2009: 07:35 AM

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