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Analyst upgrades 8-27-07: AMZN, GIS and WFMI

MOST NOTEWORTHY: Amazon.com (AMZN), Luminent Mortgage (LUM), Whole Foods (WFMI), Tenet Healthcare (THC) and Pediatrix Medical (PDX) were today's noteworthy upgrades:
  • Bernstein upgraded Amazon.com (NASDAQ: AMZN) to Outperform from Market Perform, citing margins on 3rd party transactions that are close to eBay's (EBAY) and that the overseas merchants initiative will increase 3rd party units to 25% of sales. The move is expected to increase operating margins to 6.2% by 2011, above the previously expected improvement of 4.6% by the same time.
  • JMP Securities said Luminent Mortgage's (NYSE: LUM) $64.9M emergency financing from Arco Capital may preserve some value for shareholders, and upgraded shares to Market Underperform from Sell.
  • JP Morgan added Whole Foods (NASDAQ: WFMI) to its Focus List, and expects the Wild Oats (NASDAQ: OATS) acquisition to be a catalyst for shares.
OTHER UPGRADES:
  • Rowan Co (NYSE: RDC) was upgraded to Outperform from Peer Perform at Bear Stearns.
  • BMO Capital upgraded General Mills (NYSE: GIS) to Outperform from Market Perform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 2-08-07: Sirius & XM Satellite initiated at Wedbush

MOST NOTEWORTHY: XM Satellite Radio Holdings Inc (XMSR), Sirius Satellite Radio Inc (SIRI) and Pediatrix Medical (PDX) were today's most notable initiations:
  • Wedbush initiated XM Satellite Radio Holdings Inc (NASDAQ: XMSR) with a Hold rating and $15 target, expecting a few tough quarters due to market share loss.
  • Wedbush also initiated shares of Sirius Satellite Radio Inc (NASDAQ: SIRI) with a Buy rating and $5 target. The firm believes Q4 subscriber tallies suggest market share gains to over 60% in retail channels.
  • Pediatrix Medical (NYSE: PDX) was initiated with a Top Pick rating and $60 target at RBC. The firm believes Pediatrix could experience accelerating growth over the next several years due to adding anesthesiology to its core newborn franchise.
OTHER INITIATIONS:
  • Rochdale initiated Maxwell Tech Inc (NASDAQ: MXWL) with a Buy rating and $20 target.
  • AG Edwards started Genentech Inc (NYSE: DNA) with a Hold rating, as the firm believes shares are fairly valued.
  • Trump Entertainment Resorts Inc (NASDAQ: TRMP) was started with a Buy rating at Goldman Sachs.
  • Deutsche Bank initiated Ariba Inc (NASDAQ: ARBA) with a Buy rating and $12 target.
  • Alcatel-Lucent ADS (NYSE: ALU) was initiated with a Peer Perform at Bear Stearns.

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

Symbol Lookup
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DJIA+44.2910,291.26
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S&P 500+5.501,098.51

Last updated: November 12, 2009: 06:02 AM

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