MOST NOTEWORTHY: Newmont Mining Corp (NEM), Qwest Communications International Inc (Q), Sirius Satellite Radio Inc (SIRI), Chipotle Mexican Grill, Inc (CMG) and American Eagle Outfitters (AEO) were today's noteworthy upgrades:
Prudential upgraded shares of Newmont Mining Corp (NYSE: NEM) to Neutral from Underweight citing valuation, higher gold and copper prices and specific mine factors that should lead to an operational turnaround.
Credit Suisse raised shares of Qwest Communications International Inc (NYSE: Q) to Neutral from Underperform as the firm believes management is less likely to engage in a fiber video build and cites the increase in the company's NOL carry-forwards.
Sirius Satellite Radio (NASDAQ: SIRI) was upgraded to Outperform from Market Perform at Barrington Research.
Raymond James upgraded Chipotle Mexican Grill (NYSE: CMG) to Outperform from Market Perform. Morgan Keegan also raised shares to Outperform from Market Perform, citing better-than-projected operating fundamentals and growth prospects.
American Eagle Outfitters (NYSE: AEO) was upgraded to Strong Buy from Buy at Matrix USA to reflect the company's impressive SSS growth...
OTHER UPGRADES:
Arris Group, Inc (NASDAQ: ARRS) was upgraded to Sector Performer from Underperformer.
MOST NOTEWORTHY: Today's noteworthy initiations included MasterCard Inc (MA), Time Warner Cable Inc (TWC), ZymoGenetics, Inc (ZGEN) and California Pizza Kitchen, Inc (CPKI):
AG Edwards started MasterCard Inc (NYSE: MA) with a Hold rating, citing near-term concerns about the consumer and valuation.
Credit Suisse initiated Time Warner Cable (NYSE: TWC) with a Neutral rating and $41 target.
Citigroup initiated ZymoGenetics (NASDAQ: ZGEN) Inc with a Sell rating and $12 target. The firm sees further downside given their belief the Street will lower its Thrombin expectations due to sales disappointment in early 2008.
Morgan Keegan initiated shares of California Pizza Kitchen (NASDAQ: CPKI) with an Outperform rating, finding shares compelling given the company's substantial unit growth opportunity.
OTHER INITIATIONS:
Buckingham initiated shares of Gentex Corp (NASDAQ: GNTX) with an Underperform with a $14 target, and expects margin pressure to continue.
Citigroup started POZEN Inc (NASDAQ: POZN) with a Buy rating and $28 target.
BB&T started Tarragon Corp (NASDAQ: TARR) with a Buy rating and $13 target, as the firm believes the proposed spin-off of its home-building business would unlock shareholder value.
MOST NOTEWORTHY: EchoStar Communications Corp (DISH), PeopleSupport, Inc (PSPT), and Quicksilver, Inc (ZQK) were today's most notable downgrades:
Credit Suisse downgraded EchoStar Communications Corp (NASDAQ: DISH) to Underperform from Neutral based on valuation and lower probability of an acquisition by AT&T (NYSE: T).
PeopleSupport Inc (NASDAQ: PSPT) was downgraded to Market Perform from Outperform at both Piper Jaffray and Freidman Billings following disappointing Q4 earnings and guidance; JMP Securities cut PeopleSupport to Market Outperform from Strong Buy.
Quicksilver (NYSE: ZQK) was downgraded by a host of firms: to Market Performer from Outperformer at Piper Jaffray, to Sector Performer from Outperformer at CIBC, to Hold from Buy at W.R. Hambrecht, to Neutral from Accumulate at Buckingham and to Sell from Hold at Wedbush.
OTHER DOWNGRADES:
Freidman Billings downgraded Tercica, Inc (NASDAQ: TRCA) to Underperform from Market Perform on valuation.
Prudential cut Cheesecake Factory Inc (NASDAQ: CAKE) to Underweight from Neutral citing soft industry sales trends which will impact Q1 and Q2 results.
Raymond James downgraded Goldcorp Inc (NYSE: GG) to Outperform from Strong Buy.
Lehman cut Sprint Nextel Corp (NYSE: S) to Equal-Weight from Overweight.
UBS downgraded New Century Financial Corp (NYSE: NEW) to Reduce from Neutral.
Stifel downgraded C.H. Robinson Worldwide, Inc (NASDAQ: CHRW) to Sell from Hold.
MOST NOTEWORTHY: Newmont Mining Corp (NEM), Qwest Communications International Inc (Q), Sirius Satellite Radio Inc (SIRI), Chipotle Mexican Grill, Inc (CMG) and American Eagle Outfitters (AEO) were today's noteworthy upgrades:
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