BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Analyst upgrades, downgrades and initiations: SOHU, JPM, PRSP, STO, ERTS, LM]]>http://www.bloggingstocks.com/2009/01/14/analyst-upgrades-downgrades-and-initiations/http://www.bloggingstocks.com/2009/01/14/analyst-upgrades-downgrades-and-initiations/http://www.bloggingstocks.com/2009/01/14/analyst-upgrades-downgrades-and-initiations/#commentsFiled under: , , , , ,

Analyst upgrades:
  • Oppenheimer assumed coverage of Sohu (NASDAQ:SOHU) and upgraded shares to Outperform from Perform as they believe the company is better positioned in an uncertain economy. The firm thinks strength in online games could lead to EPS upside and raised their target to $61 from $53.
  • Allegiant (NASDAQ:ALGT) was upgraded to Buy from hold at Jesup & Lamont on valuation following the recent weakness.
  • Suntrust upgraded Prosperity Bancshares (NASDAQ:PRSP) to Buy from Neutral based on valuation. The firm maintains a $30 target on shares.
  • LaBranche (NYSE:LAB) was upgraded to Buy from Sell at Goldman.
  • AU Optronics (NYSE:AUO) was raised to Overweight from Neutral at HSBC.
  • Core Laboratories (NYSE:CLB) was upgraded to Overweight from Neutral at JP Morgan.
Analyst downgrades:
  • Jefferies downgraded shares of BPZ Resources (AMEX:BPZ) to Underperform from Hold as they believe the decline in oil prices and the uncertain credit markets has placed considerable pressure on the company's operations in northwest Peru. The firm maintains a $5 target on the stock.
  • UBS downgraded StatoilHydro (NYSE:STO) and Repsol SA (NYSE:REP) to Neutral from Buy as they expect 2009 to be a difficult year for European oil and gas companies.
  • Bernstein downgraded Heinz (NYSE:HNZ) to Market Perform from Outperform and lowered their target to $42 from $62 citing foreign exchange impact and commodity pressures.
  • Blackstone Group (NYSE:BX) was downgraded to Underweight from Overweight at Barclays.
  • Siemens (NYSE:SI) was lowered to Neutral from Buy at Banc of America/Merrill.
  • Pride International (NYSE:PDE) was cut to Underweight from Neutral at JP Morgan.
Analyst initiations:
  • Kaufman Bros. believes GT Solar's (NASDAQ:SOLR) equipment orders are at a bottom and that shares are undervalued. Shares were initiated with a Buy rating and $7 target.
  • Jefferies assumed L-1 Identity (NYSE:ID) with a Buy rating and $11 target. The firm believes concerns over the company's sensitivity to government budget priorities and elevated levels of debt are overdone.
  • JP Morgan (NYSE:JPM) was started at Keefe Bruyette with a Market Perform rating and $30 target. Keefe Bruyette sees limited catalysts for the stock as they expect credit headwinds and subdued investment banking revenues to persist over the near-term.
  • Legg Mason (NYSE:LM) and T. Rowe Price (NASDAQ:TROW) were initiated with an Equal Weight rating at Barclays.
  • Electronic Arts (NASDAQ:ERTS) was initiated at Janney Mongtomery with a Neutral rating.
  • Friedman Billings reinitiated U.S. Bancorp (NYSE:USB) with an Underperform rating and $17 target.

Analyst upgrades, downgrades and initiations: SOHU, JPM, PRSP, STO, ERTS, LM originally appeared on BloggingStocks on Wed, 14 Jan 2009 11:36:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alguauobpzbxclbertshnzidjpmlablmpderepsisohusolrstotrowusbWed, 14 Jan 2009 11:36:00 EST<![CDATA[LaBranche: Moving in the right direction?]]>http://www.bloggingstocks.com/2007/07/10/labranche-moving-in-the-right-direction/http://www.bloggingstocks.com/2007/07/10/labranche-moving-in-the-right-direction/http://www.bloggingstocks.com/2007/07/10/labranche-moving-in-the-right-direction/#commentsFiled under: ,

LaBranche (NYSE: LAB) is one of the largest floor trading specialists on the New York Stock Exchange. While this used to be a prestigious and lucrative role in day-to-day trading, the importance of humans in trading continues to decrease with time.. As a result of this technological progress, LaBranche's business results have grown weaker in the last several years.

While LaBranche has seemingly done little in the last few years to prevent being "stuck in the old age", yesterday the company issued a press release regarding the future of the company. According to the PR, the company was able to sell its AMEX specialist business to Cohen Specialists, an announcement that came with an indication that LaBranche would report a loss on the sale. In addition, the company's board of directors has obtained two investment banks to explore "strategic alternatives" for the company. While this is very popular language on Wall St., I'm not sure if I'd think much of it because this is a level playing field: everyone following the recent activity and advancements in exchange technology knows and understands that the role of the specialist in trading is declining. I don't see why any buyer would pay significant money for this business unless, of course, the company can make advancements into the electronic trading space or the more lucrative trading of derivatives, futures, and the like.

In my opinion, I don't think the buzzwords "strategic alternatives" justify a buy in this one.

LaBranche: Moving in the right direction? originally appeared on BloggingStocks on Tue, 10 Jul 2007 14:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>LABLaBranheNew York Stock ExchangeNewYorkStockExchangeNYSETue, 10 Jul 2007 14:20:00 EST