rrr posts
FeedPosted Mar 5th 2009 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Pfizer (PFE), McDonald's (MCD), AT and T (T), Adobe Systems (ADBE), Research in Motion (RIMM), Gap Inc (GPS), Analyst initiations
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Analyst upgrades:
- Citigroup upgraded Lubrizol (NYSE: LZ) to Buy from Hold on valuation as they believe economic weakness is already priced into the stock. Despite upgrading, Citigroup lowered their target price to $32 from $36.
- UBS believes AT&T (NYSE: T) consensus estimates are beatable and that the 7.1% dividend yield is safe. Additionally, the firm said a strike is possible when the unionized wireline employee contract expires on April 4th but expects the company to succeed in lowering healthcare benefits. Shares were upgraded to Buy from Neutral.
- Friedman Billings upgraded Adobe (NASDAQ: ADBE) to Market Perform from Underperform as they believe guidance appropriately reset expectations and that the risk/reward is neutral at current levels. The firm lowered their target price to $16 from $17. Shares were also upgraded to Buy from Hold at Jefferies after the Q1 results to reflect better-than-expected cost cuts and an attractive risk/reward at current levels.
- Lousiana Pacific (NYSE: LPX) was raised to Sector Outperformer from Sector Performer at CIBC.
- OmniVision (NASDAQ: OVTI) was upgraded at Baird to Neutral from Underperform.
Continue reading Analyst upgrades, downgrades and initiations: T, ADBE, GPS, RIMM, MCD, PFE ...
Posted Dec 23rd 2008 11:40AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
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Analyst upgrades:
- Axys Tech (NASDAQ: AXYS) was upgraded to Outperform from Market Perform at Morgan Keegan on valuation.
- Credit Suisse upgraded Cemex (NYSE: CX) to Neutral from Underperform following the company's refinancing announcement.
- Patni Computer (NYSE: PTI) was upgraded to Buy from Neutral at UBS.
Analyst downgrades:
- Merriman downgraded Environmental Power (NASDAQ: EPG) to Neutral from Buy citing a lack of visibility into the company's capital raise and lowered their estimates to reflect a slippage in project schedules.
- Jefferies cut inVentiv Health (NASDAQ: VTIV) to Hold from Buy as they believe budget cuts at the company's client base make 2009 estimates too high. The firm lowered their target to $11 from $15.
- Oppenheimer downgraded RSC Holdings (NYSE: RRR) to Perform from Outperform to reflect the continued deterioration in non-residential construction and valuation following the recent rally.
- Smurfit-Stone (NASDAQ: SSCC) was lowered to Hold from Buy at Deutsche Bank.
- Distribucion Y Servicio (NYSE: DYS) was downgraded to Sell from Hold at Deutsche Bank.
- Key Energy (NYSE: KEG) was downgraded at SMH Capital to Neutral from Accumulate.
Analyst initiations:
- AECOM Technology (NYSE: ACM) was initiated with an Outperform rating and $34 target at Baird. The firm is positive on AECOM's diverse portfolio of services and global reach.
- Baird also initiated Checkpoint (NYSE: CKP) with a Neutral rating and $11 target, citing the weak macro environment.
- Thomas Weisel said Integra LifeSciences (NASDAQ: IART) has little exposure to economically sensitive areas of healthcare and has a varied mix of products that provide a platform for sustainable organic growth. Shares were initiated with an Overweight rating.
- Piper Jaffray assumed CBS Corp (NYSE: CBS) with a Neutral rating.
- BioMarin (NASDAQ: BMRN) was started at Stanford with a Hold rating.
- Websense (NASDAQ: WBSN) was initiated with an Equal Weight at First Analysis.
Posted Jun 5th 2008 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Pfizer (PFE), Motorola (MOT)
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MOST NOTEWORTHY: Allegheny Tech, Carpenter Tech, Haynes, Motorola and Machinery stocks were today's noteworthy downgrades:
- JP Morgan downgraded Allegheny Tech (NYSE:ATI), Carpenter Tech (NYSE:CRS) and Haynes (NASDAQ:HAYN) to Neutral from Overweight based on the decline in nickel prices and its impact on nickel-based metals demand on valuation, as they find the risk/reward less attractive following the recent rally and increased raw material costs.
- Oppenheimer downgraded shares of Motorola (NYSE:MOT) to Underperform from Perform after channel checks indicated the company could miss Q2 handset guidance and continued market share losses.
- UBS said the risk/reward profile for owning Machinery stocks given macro challenges and valuations. The firm downgraded Caterpillar (NYSE:CAT) and Kennametal (NYSE:KMT) to Sell from Neutral and United Rentals (NYSE:URI) and RSC Holdings (NYSE:RRR) to Neutral from Buy. Additionally, shares of Paccar (NASDAQ:PCAR) were cut to Sell from Neutral and Navistar (OTC:NAVZ) was downgraded to Neutral from Buy due to weak U.S. truck demand.
OTHER DOWNGRADES:
Posted Oct 16th 2007 11:30AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst initiations, China Mobile Limited (CHL)
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MOST NOTEWORTHY: Penske Automotive, CarMax, Towerstream, Solera and Northstar were today's noteworthy initiations:
- Kevin Dann initiated shares of Penske Automotive Group Inc (NYSE: PAG) with a Buy rating and $25 target. The firm believes shares deserve a higher multiple given the company's reduced exposure to slower growing domestic brands combined with the increased penetration o luxury as a percentage of industry sales.
- CarMax Inc (NYSE: KMX) was also initiated at Kevin Dann with a Buy rating and $28 target, as they expect the multiple expansion to continue as confidence builds in the company's sales and expense strategy.
- Think Equities started shares of Towerstream Corporation (NASDAQ: TWER) with a Buy rating and $5 target and said the company is rapidly growing given robust demand fro high bandwidth services, market expansion, sales force growth, and higher ARPU services.
- Barrington believes Solera Holdings Inc (NYSE: SLH) is positioned to capture growth through technology adoption in claims processing by insurance companies, starting shares off with an Outperform rating and $27 target.
- Jefferies resumed coverage of Northstar Neuroscience Inc (NASDAQ: NSTR) with a Buy rating and $21 target, as they expect the company's Phase III EVEREST trial to yield positive positives, setting the stage for an FDA approval by Q109.
OTHER INITIATIONS:
Posted Sep 18th 2007 11:00AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Lockheed Martin (LMT)
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MOST NOTEWORTHY: National Grid, Shire Plc, On Semiconductor and Enbridge were today's noteworthy upgrades:
- Deutsche Bank upgraded shares of National Grid (NYSE: NGG) to Buy from Hold as they believe the Keyspan deal will be positive for shareholders.
- Goldman upgraded shares of Shire Plc (NASDAQ: SHPGY) to Buy from Neutral and added the stock to their Conviction Buy List on valuation and expected gains in the ADHD market.
- On Semiconductor (NASDAQ: ONNN) was upgraded to Outperform from Market Perform at Wachovia on valuation.
- Enbridge Inc (NYSE: ENB) was raised to Sector Outperformer from Sector Performer at CIBC World Markets, as the firm sees an attractive 3-year return potential as new projects come into service and expects the stock's relative underperformance to come to an end.
OTHER UPGRADES:
Posted Jul 2nd 2007 10:42AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Electronic Arts (ERTS), Activision Inc (ATVI), Analyst initiations
MOST NOTEWORTHY: AstraZeneca plc (AZN) and the interactive Eetertainment sector were today's noteworthy initiations:
- Coverage on AstraZeneca (NYSE: AZN) was resumed with a Buy rating at Deutsche Bank. The firm believes the company's change in EPS guidance to a cash basis is likely to lead to significant increases to EPS estimates.
OTHER INITIATIONS:
- Sirtris Pharmaceuticals (NASDAQ: SIRT) was initiated by Rodman with an Outperform rating, at JP Morgan with an Overweight rating, at JMP Securities with a Market Outperform rating and at CIBC with a Sector Outperformer rating.
- RSC Holdings (NYSE: RRR) was initiated at Baird with an Outperform rating, at Morgan Stanley with an Overweight rating, at CIBC with a Sector Outperform rating and at Deutsche Bank with a Buy rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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