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Analyst upgrades 5-01-07: CMCSA, D, RIMM and VZ

Posted May 1st 2007 10:49AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Comcast Cl'A' (CMCSA), Research in Motion (RIMM), Verizon Communications (VZ)

MOST NOTEWORTHY: Dominion Resources (D), Syniverse Holdings (SVR), Research in Motion (RIMM), Verizon Communications (VZ) and Comcast (CMCSA) were the noteworthy upgrades today:
  • Jefferies upgraded shares of Dominion Resources (NYSE: D) and raised their target to $90 from $68 as the firm believes shares are fairly valued based on assumed higher spark spreads in New England.
  • Credit Suisse upgraded Research in Motion (NASDAQ: RIMM) and raised their target to $145 from $100 as the firm believes the company will benefit from smart phone market growth and improving international traction. However, FBCO still believes RIMM's increasing exposure to the consumer market will continue to pressure margins.
  • Prudential said Verizon Communications (NYSE: VZ) is showing signs of improving revenue growth and accelerating FiOS TV subscriber additions, as well as continued dominance in wireless, and upgraded shares to Neutral from Underweight.
OTHER UPGRADES:
  • Goldman upgraded Danaher Corp (NYSE: DHR) to Buy from Neutral with an $81 target.
  • NTT DoCoMo (NYSE: DCM) was upgraded to Outperform from Neutral at Credit Suisse.
  • Bear Stearns raised Ingersoll-Rand's (NYSE: IR) rating to Peer Perform from Underperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 4-17-07: CKFR, JDSA, MEDI and S all downgraded today

Posted Apr 17th 2007 11:01AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Sprint Nextel Corp (S), Jones Soda (JSDA),

MOST NOTEWORTHY: CheckFree Corp (CKFR), Sprint Nextel Corp (S) and the semiconductor capital equipment sector were some of today's more noteworthy downgrades:
OTHER DOWNGRADES:
  • ThinkEquity cut Jones Soda Co (NASDAQ: JSDA) to Source of Funds from Buy based on valuation.
  • Goldman is now cautious on the biofuel sector, downgrading the group to Cautious from Neutral.
  • William Blair downgraded shares of Medimmune, Inc (NASDAQ: MEDI) to Market Perform from Outperform.
  • Credit Suisse downgraded shares of Big 5 Sporting Goods Corp (NASDAQ: BGFV) to Underperform from Neutral citing valuation.
  • Wachovia dropped Inkeepers USA Trust (NYSE: KPA) to Underperform from Outperform based on the acquisition from Apollo Investment Corp (AINV). Citigroup cut Inkeepers to Hold from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Apollo buys Innkeepers USA -- doubles down on real estate

Posted Apr 16th 2007 1:34PM by Tom Taulli (RSS feed)
Filed under: Deals, Private equity,

The folks at Apollo Management have been loading up on real estate lately. One deal that closed last week was the buyout of Realogy, which has an assortment of residential real estate brokerages such as Century 21, Coldwell Banker, and ERA.

Another part of Apollo -- Apollo Investment Corporation (NASDAQ: AINV) -- is also making a play at real estate. Today, the firm agreed to pay $17.75 for Innkeepers USA Trust (NYSE: KPA). The valuation comes to roughly $1.5 billion.

Innkeepers is a REIT and operates a variety of hotel brands, like Residence Inns, Summerfield Suites and Hampton Inns. While the firm generates consistent cash flows, the deal is not cheap at its 14X EBITDA multiple. Then again, the company probably has expansion possibilities.

On today's announcement, Innkeepers' stock is trading up 8% to $17.77.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

Symbol Lookup
IndexesChangePrice
DJIA+15.8010,242.74
NASDAQ-1.922,152.14
S&P 500+0.221,093.30

Last updated: November 10, 2009: 02:44 PM

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