rating change posts
FeedPosted Feb 22nd 2007 11:15AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, Whole Foods Market (WFMI), Goldcorp Inc (GG)
MOST NOTEWORTHY: Seagate Technology (STX), Analog Devices inc (ADI) and Whole Foods Market Inc (WFMI) were some of today's notable upgrades:
- AG Edwards upgraded Seagate Technology (NYSE: STX) to Buy from Hold citing improving fundamentals as the company ramps 1.8" drives in the first quarter, with a potential Apple (AAPL) qualification, and market share gains in notebooks.
- ThinkEquity upgraded Analog Devices Inc (NYSE: ADI) to Accumulate from Source of Funds, with a target of $38, as they believe the improvement in bookings are sustainable; Citigroup also upgraded Analog Devices, to Buy from Hold, to reflect the company's earnings expectations.
- William Blair upgraded Whole Foods Market Inc (NASDAQ: WFMI) to Outperform from Market Perform based on valuation and the benefits of the Wild Oats Markets (NASDAQ: OATS) acquisition; HSBC upgraded shares of Whole Foods to Neutral from Underweight, with a $52 target, and UBS upgraded shares to Buy from Neutral based on the acquisition.
OTHER UPGRADES:
- Prudential upgraded Goldcorp inc (NYSE: GG) to Neutral from Underweight citing the increase in gold prices and a potential increase in Penasquito mine reserves.
- Stifel upgraded QMed Inc (NASDAQ: QMED) to Buy from Hold on improved revenue visibility.
- IHOP Corp (NYSE: IHP) was upgraded at Raymond James to Outperform from Market Perform with a $64 target.
- Bernstein upgraded Commerce Bancorp Inc (NYSE: CBH) to Outperform from Market Perform.
- Stereotaxis Inc (NASDAQ: STXS) was upgraded to Neutral from Sell at Goldman Sachs following its better-than-expected fourth quarter.
- RBC upgraded Labopharm Inc (NASDAQ: DDSS) to Outperform from Sector Perform.
- Morgan Stanley upgraded National Semiconductor Corp (NYSE: NSM) to Overweight from Equal Weight citing improving fundamentals and valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Posted Feb 21st 2007 11:32AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, , Coach Inc (COH), Analyst Initiations
MOST NOTEWORTHY: Acorda Therapeutics Inc (ACOR) and Coach, Inc (COH) were some of today's most notable initiations:
- Morgan Joseph started Acorda Therapeutics Inc (NASDAQ: ACOR) with a Sell rating and $15 target citing seizure rates for Fampridine-SR and limited efficacy for its rating.
- Coach, Inc (NYSE: COH) was started at Soleil with a Buy rating and $58 target; the firm believes continuing market share gains should create a long-term EPS growth rate of 23%.
OTHER INITIATIONS:
- Morgan Stanley initiated Time Warner Cable (OTC: TWCA) with an Equal Weight rating.
- Raymond James started Legacy Reserves LP (NASDAQ: LGCY) with an Outperform rating and $27 target.
- Wedbush initiated Avaya Inc (NYSE: AV) with a Hold rating and $14 target.
- Nollenberger initiated Rudolph Technologies Inc (NASDAQ: RTEC) with a Buy rating and $26 target, citing valuation.
- Precision Drilling Trust (NYSE: PDS) was initiated at CIBC with a Sector Performer rating.
- Lehman Brothers started Polo Ralph Lauren Corp (NYSE: RL) with an Overweight rating and $100 target.
- Bank of America reinstated The Nasdaq Stock Market Inc (NASDAQ: NDAQ) with a Neutral rating and $33 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Posted Feb 21st 2007 11:21AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Motorola (MOT), KB HOME (KBH), QUALCOMM Inc (QCOM), Palm Inc (PALM), Hasbro Inc (HAS), China Life Insurance ADS (LFC)
MOST NOTEWORTHY: Motorola Inc (MOT), Maguire Properties Inc (MPG), China Life Insurance Co Ltd (LFC) and Palm, Inc (PALM) were some of today's most notable downgrades:
- Lehman Bros downgraded shares of Motorola Inc (NYSE: MOT) to Equal Weight from Overweight with a $20 target citing a slower recovery in handset margins.
- Stifel downgraded Maguire Properties Inc (NYSE: MPG) to Sell from Hold. Friedman Billings removed Maguire from its Top Picks list, citing the $2.9 billion acquisition of California assets for the removal.
- Bear Stearns downgraded China Life Insurance Co Ltd (NYSE: LFC) to Underperform from Peer Perform based on valuation.
- ThinkEquity cut Palm, Inc (NASDAQ: PALM) to Accumulate from Buy with an $18 target citing valuation driven by takeover speculation as well as lack of execution improvements.
OTHER DOWNGRADES:
- UBS downgraded shares of both CSX Corp (NYSE: CSX) and Kansas City Southern (NYSE: KSU) to Neutral from Buy on valuation. The broker raised CSX's target to $45 from $41 and raised Kansas City's target to $38 from $33.
- AG Edwards downgraded Qualcomm, Inc (NASDAQ: QCOM) to Hold from Buy on valuation.
- Lehman downgraded Hasbro Inc (NYSE: HAS) to Equal Weight from Overweight with a $30 target.
- Matrix USA downgraded KB Home (NYSE: KBH) to Hold from Strong Buy based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Posted Feb 21st 2007 11:10AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, Intel (INTC), Sony Corp ADR (SNE), Mattel, Inc (MAT), Marvell Technology Group (MRVL), Wells Fargo (WFC)
MOST NOTEWORTHY: Progress Energy Inc (PGN), Mattel inc (MAT), Career Education Corp and (CECO) were some of today's notable upgrades:
- JP Morgan upgraded shares of Progress Energy Inc (NYSE: PGN) to Neutral from Underweight citing the company's improving earnings profile.
- Lehman upgraded shares of Mattel Inc (NYSE: MAT) to Equal Weight from Underweight with a $26 target, citing increased traction at retail stores for Barbie as well as expectations for 10% earnings growth.
- Career Education Corp (NASDAQ: CECO) was upgraded to Neutral from Underperform at Credit Suisse as they believe general start growth will bottom in 4Q/1Q and that its University division will return to positive start growth in 3Q07.
OTHER UPGRADES:
- Pacific Growth upgraded shares of Marvell Technology Group ltd (NASDAQ: MRVL) to Buy from Neutral to reflect the aggressive transfer of the Intel (NASDAQ: INTC) cell phone foundry business.
- Both Soleil Securities and Bank of America upgraded Warner Music Group Corp (NYSE: WMG) to Buy from Hold with a $23 target in order to reflect the company's improved fundamentals; they believe Warner's balance sheet restructuring bodes well for earnings.
- Merrill Lynch upgraded JetBlue Airways Corp (NASDAQ: JBLU) to Buy from Neutral on valuation.
- Diamond Offshore Drilling Inc (NYSE: DO) was added to Goldman Sachs' Conviction Buy List.
- CIBC upgraded Wells Fargo & Co (NYSE: WFC) to Sector Outperformer from Sector Performer, citing valuation and the $8 billion in excess capital in the coffers.
- Wachovia upgraded Fossil, Inc (NASDAQ: FOSL) to Outperform from Market Perform.
- HSBC upgraded Sony Corp (NYSE: SNE) to Neutral from Underweight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Posted Feb 16th 2007 11:54AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Initiations
MOST NOTEWORTHY: Cadbury Schweppes ADS (CSG) and Buckeye Partners (BPL) were today's most notable rating changes.
- Wachovia started Cadbury Schweppes ADS (NYSE: CSG) with an Outperform rating. They said Cadbury's long-term global confectionery opportunities are among the best in the industry and the recent buyout of its U.S. Dr. Pepper/Seven-Up bottling unit provides high-leverage cash flow.
- Buckeye Partners Ltd (NYSE: BPL) was initiated with an Underperform rating and a $48 target at RBC based on valuation.
OTHER INITIATIONS:
- Stanford initiated AudioCodes Ltd (NASDAQ: AUDC) with a Buy rating and $15 target. The firm believes AudioCodes is an inexpensive play on the migration to packet networks.
- Stifel initiated William Partners LP (NYSE: WPZ) with a Buy rating and $46.50 target.
- AG Edwards started BioMarin Pharmaceutical inc (NASDAQ: BMRN) with a Buy rating and $25 target.
- Pacer International Inc (NASDAQ: PACR) was initiated with a Hold rating at Stifel.
- Morgan Stanley started Lyondell Chemical Company (NYSE: LYO) with an Overweight rating and $38 target.
- Buckingham initiated Chattem Inc (NASDAQ: CHTT) with an Accumulate rating and $64 target, citing high margins, cash flow and reduced debt.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Posted Feb 16th 2007 11:44AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Expedia Inc (EXPE)
MOST NOTEWORTHY: Career Education Corp (CECO) and Expedia Inc (EXPE) were today's most notable downgrades:
- Prudential downgraded Career Education Corp (NASDAQ: CECO) to Underweight from Neutral with a $20 target based fourth quarter results and guidance.
- Expedia inc (NASDAQ: EXPE) was downgraded to Sector Performer from Sector Outperformer based on a deteriorating outlook and valuation following the weak fourth quarter.
OTHER DOWNGRADES:
- Various retail dining companies were downgraded today:
- Denny's Corp (NASDAQ: DENN) was reduced to Neutral from Buy at Merriman, citing weak traffic trends and the net unit growth delay into 2008.
- UBS downgraded Applebee's Int'l Inc (NASDAQ: APPB) to Neutral from Buy as they believe sales and traffic declines are likely to continue until easier comps in the second quarter.
- BB&T downgraded California Pizza Kitchen Inc (NASDAQ: CPKI) to Hold from Buy on valuation and concerns about earnings visibility.
- Constellation Brands Inc (NYSE: STZ) was cut to Neutral from Buy at Goldman Sachs on concerns around upcoming guidance and their belief that a recovery in the U.K. and Australia is at least a year away.
- Goldman downgraded WellCare Health Plans Inc (NYSE: WCG) to Sell from Neutral.
- Citigroup downgraded Petrobras Energia Participaciones ADS (NYSE: PZE) and Consolidated Communications Holdings Inc (NASDAQ: CNSL) to Sell from Hold.
- WedBush downgraded Take-Two Interactive Software (NASDAQ: TTWO) to Sell from Hold with a $15 target to reflect less optimism about the company's sport franchise and risk from the NY AG investigation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Posted Feb 16th 2007 11:28AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, Coca-Cola (KO), PepsiCo (PEP), Avon Products (AVP), Colgate-Palmolive (CL), General Mills (GIS)
MOST NOTEWORTHY: Rivals Coca-Cola Co (KO) and PepsiCo Inc (PEP), as well as General Mills (GIS), were today's notable upgrades.
- Goldman Sachs upgraded both The Coca-Coca Co (NYSE: KO) and PepsiCo Inc (NYSE: PEP) to Buy from Neutral: The upgrade for Coca-Coca was to reflect the company's recent strong results, and Pepsi's upgrade was to reflect Gatorade's expected profit re-acceleration by the second half of 2007.
- General Mills Inc (NYSE: GIS) was upgraded to Market Perform from Underperform at BMO Capital Markets with a $58 target based on achievable outlook and absence of any negative catalysts.
OTHER UPGRADES:
- Bank of America upgraded Colgate-Palmolive Co (NYSE: CL) to Buy from Neutral with a $74 target. The firm believes Colgate's long-term growth rate can accelerate to 12-13% from 10% on margin upside.
- Prudential upgraded shares of Avon Products Inc (NYSE: AVP) to Neutral from Underweight to reflect the company's improving fundamentals; the firm believes that news over the last six months has been getting more positive.
- Buckingham upgraded Tween Brands Inc (NYSE: TWB) to Accumulate from Neutral.
- CIBC upgraded Cablevision Systems Corp (NYSE: CVC) to Buy from Hold. Raymond James raised Lithia Motors (LAD) to Strong Buy from Market Perform following its Q4 report and guidance.
- First Albany upgraded Stamps.com Inc (NASDAQ: STMP) to Buy from Neutral, with a $19 target.
- Deutsche Bank upgraded International Paper Co (NYSE: IP), Packaging Corp of America (NYSE: PKG) and Smurfit-Stone Container Corp (NASDAQ: SSCC) to Buy from Hold. The firm believes momentum is turning and backlogs and pricing are emerging from the winter doldrums stronger than expected.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Posted Feb 15th 2007 11:32AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Initiations
MOST NOTEWORTHY: Bebe Stores Inc (BEBE) topped today's most notable initiations.
- Wedbush started Bebe Stores Inc (NASDAQ: BEBE) with a Hold rating and $21 target; they believe shares are range-bound given near-term fashion risks and limited visibility into square-footage growth.
OTHER INITIATIONS:
- Gymboree Corp (NASDAQ: GYMB) was initiated with a Buy rating and $48 target at Wedbush, as the firm expects margin expansion opportunities from recent sourcing initiatives.
- Roth Capital added A.D.A.M. Inc (NASDAQ: ADAM) with a Buy rating and $8 target.
- Friedman Billings started MBIA Inc (NYSE: MBI) with a Market Perform rating.
- Lazard initiated Teekay Shipping Corp (NYSE: TK) with a Hold rating, citing valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Posted Feb 15th 2007 11:26AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, , Sirius Satellite Radio (SIRI)
MOST NOTEWORTHY: Baidu.com Inc ADS (BIDU), XM Satellite Radio Holdings Inc (XMSR) and Vonage Holdings Corp (VG) were today's most notable downgrades:
- UBS downgraded shares of Baidu.com Inc ADS (NASDAQ: BIDU) to Reduce from Neutral with a $99 target following first quarter guidance calling for flat Q/Q revenue growth in the first quarter. The broker attributes the forth quarter upside to lower expenses and the booking of tax income.Citigroup downgraded Baidu.com to Sell from Neural with a $105 target while Brean Murray downgraded to company to Hold from Buy.
- XM Satellite Radio Holdings Inc (NASDAQ: XMSR) was downgraded to Hold from Buy with a $15 target at Stanford based on the shift in retail share and a remote chance of a merger with Sirius Satellite Radio (NASDAQ: SIRI).
- Buckingham downgraded Vonage Holdings Corp (NYSE: VG) to Underperform from Neutral following the disappointing fourth quarter results.
OTHER DOWNGRADES:
- Schering-Plough Corp (NYSE: SGP) was downgraded to Neutral from Overweight at Prudential, citing valuation.
- Matrix USA downgraded Plantronics Int (NYSE: PLT) to Strong Sell from Sell based on the softening demand for entertainment headsets.
- DA Davidson downgraded Alcan Inc (NYSE: AL) to Buy from Hold.
- Citigroup downgraded CSX Corp (NYSE: CSX) to Hold from Buy with a $42 target and removed the company from its Recommended List on valuation.
- Deutsche Bank downgraded Radio One Inc (NASDAQ: ROIAK) to Hold from Buy telling clients that Q1 revenue trends could be weaker than expected.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Posted Feb 14th 2007 11:55AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News
MOST NOTEWORTHY: The more notable downgrades today included Playboy Enterprises (PLA), Embratel Participacoes (EMT) and Choice Hotels Int'l Inc (CHH):
- Bank of America and UBS downgraded Playboy Enterprises (NYSE: PLA) to Neutral from Buy, citing limited visibility.
- Citigroup downgraded Embratel Participacoes ADS (NYSE: EMT) to Sell from Hold on expected lower liquidity following Telfonos de Mexico SA ADS (NYSE: TMX) voluntary tender expiration.
- Choice Hotels Int'l Inc (NYSE CHH) was downgraded to Underperform from Peer Perform at Bear Stearns following the company's Q4 report and guidance.
OTHER DOWNGRADES:
- VeraSun Energy Corp (NYSE: VSE) was downgraded to Sell from Neutral at Goldman based on relative valuation.
- Goldman Sachs also downgraded 1-800-Flowers.com Inc (NASDAQ: FLWS) to Sell from Neutral based on valuation.
- Piper Jaffray downgraded Buffalo Wild Wings Inc (NASDAQ: BWLD) to Market Perform from Outperform citing difficult year-over-year comps and increased chicken wing prices.
- CIBC downgraded Nasdaq Stock Market Inc (NASDAQ: NDAQ) to Sector Performer from Outperformer.
- ThinkEquity downgraded Zoltek Companies inc (NASDAQ: ZOLT) to Accumulate from Buy.
- BMO Capital Markets cut Weyerhaeuser Co (NYSE: WY) to Market Perform from Outperform based on valuation.
Analyst summaries provided by
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Posted Feb 14th 2007 11:41AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, Applied Materials (AMAT), Ciena Corp (CIEN), Coca-Cola Enterprises (CCE), FedEx Corp (FDX)
MOST NOTEWORTHY: FedEx Corp (FDX) and Applied Materials Inc (AMAT) were today's notable upgrades:
- Morgan Keegan upgraded FedEx Corp (NYSE: FDX) to Outperform from Market Perform. The firm said recent data indicates that the company's core business segments are well-positioned for operational improvements given current initiative; data also indicates that we may have reached a bottom in the economy and can potentially expect a soft landing.
- Applied Materials Inc (NASDAQ: AMAT) was upgraded to Buy from Hold with a $25 target at First Albany and Stanford, as they believe the company's memory cycle is better than investors may think.
OTHER UPGRADES:
- Coca-Cola Enterprises Inc (NYSE: CCE) was upgraded to Market Perform from Underperform at Bernstein because the firm no longer sees any major negative catalysts ahead.
- Apria Healthcare Group Inc (NYSE: AHG) was upgraded to Hold from Sell with a $30 target at Deutsche Bank. The firm said Apria reported a solid fourth quarter and near-term momentum was more clear.
- JP Morgan upgraded King Pharmaceuticals inc (NYSE: KG) to Neutral from Underweight on valuation and the potential of a prolonged delay of generic Skelazin.
- Citigroup upgraded Ciena Inc (NASDAQ: CIEN) to Buy from Hold, but still considers JDS Uniphase Corp (NASDAQ: JDSU) their top pick for capacity exposure.
- Jefferies raised Applebee's Int'l Inc (NASDAQ: APPB) to Hold from Underperform to reflect the company's decision to seek strategic alternatives.
- Prudential upgraded Nasdaq Stock Market Inc (NASDAQ: NDAQ) to Neutral from Underweight with a $30 target.
- JMP Securities upgraded KB Home (NYSE: KBH) to Outperform from Market Perform with a $60 target.
Analyst summaries provided by
TheFlyOnTheWall.com (subscription required).
Posted Feb 14th 2007 12:03AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, ConAgra Foods (CAG), Analyst Initiations,
MOST NOTEWORTHY: aQuantive Inc(AQNT) and Vanda Pharmaceuticals Inc (VNDA) were today's most notable initiations:
- CIBC initiated aQuantive Inc (NASDAQ: AQNT) with a Sector Performer rating and $30 target. The firm believes aQuantive's key challenge is margin pressure from the rising cost of talent, but they expect strong fourth-quarter results.
- Friedman Billings is positive on Vanda Pharmaceuticals Inc's (NASDAQ: VNDA) lead drug candidate, atypical antipsychotic iloperidone, which showed positive data in Ph III studies for schizophrenia; Friedman started the company with an Outperform rating and $40 target.
OTHER INITIATIONS:
- Canaccord started Unica Corp (NASDAQ: UNCA) with a Buy rating and $15 target.
- Oppenheimer initiated Community Bancorp NV (NASDAQ: CBON) with a Buy rating and $38 target.
- Bank of America initiated ConAgra Foods Inc (NYSE: CAG) with a Neutral rating and $27 target based on valuation.
- Stephens put a $20 target on ACA Capital Holdings Inc (NYSE: ACA) and started the company with an Overweight rating.
- Friedman Billings says Sepracor Inc's (NASDAQ: SEPR) Lunesta faces generic challenges and that 2007 guidance may be hard to achieve; the firm started Sepracor with a Market Perform rating and $58 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Posted Feb 13th 2007 11:22AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, ConAgra Foods (CAG), Analyst Initiations
MOST NOTEWORTHY: WebMD Health Corp (WBMD) was today's only noteworthy initiation:
- William Blair started the online health information portal, WebMD Health Corp (NASDAQ: WBMD) with an Outperform rating. The firm believes WebMD is positioned to benefit from various trends in the industry, including the increasing use of the Internet for information and patients' assuming more responsibility for their health care decisions.
OTHER INITIATIONS:
- Pacific Growth initiated United Therapeutics Corp (NASDAQ: UTHR) with a Neutral rating. The firm sees potential revenue risk from patient switching and reduced new patient starts in response to reports about higher incidence of serious Gram negative infections resulting in a Dear Doctor letter being sent to all IV-Remodulin prescribers in September 2006.
- Soleil Securities started Genuine Parts Co (NYSE: GPC) with a Buy rating and $65 target, noting that Genuine has the highest yield in the auto sector.
- Nollenberger doesn't see a catalyst for double-digit growth in Lam Research Corp (NASDAQ: LRCX) for the next 12-18 months and initiated the company with a Neutral rating and $40 target.
- ConAgra Foods Inc (NYSE: CAG) was initiated with a Hold rating at AG Edwards on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Posted Feb 13th 2007 11:14AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Ford Motor (F), Hansen Natural (HANS), Alcoa Inc (AA), , Coca-Cola Enterprises (CCE)
MOST NOTEWORTHY: Hydril Corp (HYDL), Circuit City Stores (CC) and Ford Motor Corp (F) topped today's list of most notable downgrades:
- Following the acquisition by Tenaris SA ADS (NYSE: TS), Hydril Corp (HASDAQ: HYDL) was downgraded by Lehman Brothers to Underweight from Overweight, to Peer Perform from Outperform at Bear Stearns and to Neutral from Overweight at JP Morgan.
- Circuit City Stores (NYSE: CC) was downgraded to Neutral from Buy on valuation at Goldman Sachs.
- Merrill Lynch downgraded Ford Motor Corp (NYSE: F) to Sell from Neutral citing the recent strength of its shares.
OTHER DOWNGRADES:
- Alcoa Inc (NYSE: AA) was taken down to Hold from Buy on valuation.
- Multi-Fineline Electronix Inc (NASDAQ: MFLX) was downgraded to Strong Sell from Strong Buy at Matrix USA, as the firm believes strong competition is eroding sales growth.
- Hansen Natural Corp (NASDAQ: HANS) was downgraded by both Goldman Sachs and JP Morgan to Neutral from Buy on valuation.
- Citigroup cut Coca-Cola Enterprises Inc (NYSE: CCE) to Hold from Buy citing the difficult CSD environment, especially relative to Buy-rated Pepsi Bottling Group (NYSE: PBG). The firm considers Pepsi Bottling to be better-positioned than Coca-Cola Enterprises.
- Freidman Billings downgraded Onyx Pharmaceuticals (NASDAQ: ONXX) to Underperform from Market Perform on valuation.
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Posted Feb 13th 2007 10:55AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, General Motors (GM), 3M Corporation (MMM), Brinker Intl (EAT), MasterCard Inc'A' (MA), Level 3 Communications (LVLT)
MOST NOTEWORTHY: Level 3 Communications Inc (LVLT) and General Motors Corp (GM) were today's notable upgrades:
- Deutsche Bank raised Level 3 Communications Inc (NASDAQ: LVLT) to Hold from Sell with a $5.40 target based on the belief the company will meet 2007 expectations.
- General Motors Corp (NYSE: GM) was upgraded at Merrill Lynch to Buy from Sell based on increased confidence the company will leverage its liquidity and legacy assets, specifically its pension, to drive positive changes.
OTHER UPGRADES:
- MasterCard inc (NYSE: MA) was upgraded to Overweight from Neutral at JP Morgan on valuation.
- Prudential upgraded Brinker Int'l Inc (NYSE: EAT) to Overweight from Neutral.
- Following the company's strong Q4 report, Piper Jaffray upgraded shares of Shanda Interactive Entertainment Ltd ADS (NASDAQ: SNDA) to Outperform from Market Perform with a $29 target, citing improved fundamentals and increased confidence in the come-stay-play model, among other reasons.
- Dover Downs Gaming & Entertainment (NYSE: DDE) moved to Hold from Sell at Stifel Nicolaus, citing valuation.
- Prudential raised HealthNet Inc (NYSE: HNT) to Neutral from Underweight, with a $52 target.
- 3M Company (NYSE: MMM) was raised to Buy from Hold with an $86 target at Soleil Securities following last nights $7B buyback announcement, which the firm believes will act as a positive catalyst.
- Bear Stearns upgraded Applebee's Int'l Inc (NASDAQ: APPB) to Peer Perform from Underperform following the company's announcement that it hired a financial adviser to explore strategic alternatives.
- Credit Suisse upgraded Build-A-Bear Workshop (NYSE: BBW) to Outperform from Neutral, with a $37 target.
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