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Analyst upgrades: BRCD, GME, PBG and RFMD

MOST NOTEWORTHY: GameStop (GME), Brocade (BRCD), Tween Brands (TWB), Plantronics (PLT) and Arcelor Mittal (MT) were today's more notable upgrades:
  • First Albany sees upside potential in GameStop (NYSE: GME) through 2008 and upgraded shares to Strong Buy from Buy.
  • JMP Securities upgraded Brocade (NASDAQ: BRCD) to Market Outperform from Market Perform on valuation.
  • Tween Brands (NYSE: TWB) was upgraded to Buy from Sell on valuation at Matrix USA.
  • JMP Securities' checks indicate Altec Lansing's im600 iPod docking station/FM radio is selling better than expected, and upgraded shares of Plantronics (NYSE: PLT) to Market Outperform from Market Perform.
  • Merrill upgraded shares of Arcelor Mittal (NYSE: MT) to Buy from Neutral to reflect the company's inclusion in the Euro Stoxx 50 Index in September as well as the positive global carbon steel environment...
OTHER UPGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 8-23-07: AMWD, DB, EV and TLB

MOST NOTEWORTHY: Eaton Vance (EV), American Woodmark (AMWD), Deutsche Bank (DB) and Talbots (TLB) were today's notable downgrades:
  • JP Morgan cut Eaton Vance (NYSE: EV) to Underweight from Neutral on the significant drop in municipal bond performance and valuation.
  • Raymond James cut American Woodmark (NASDAQ: AMWD) to Underperform from Market Perform following the weak Q1 report and guidance.
  • Deutsche Bank (NYSE: DB) was downgraded to Neutral from Buy at Goldman based on valuation.
  • Talbots (NYSE: TLB) was cut to Hold from Buy at Stifel following the weak Q2 report and guidance...
OTHER DOWNGRADES:
  • Zumiez (NASDAQ: ZUMZ) was downgraded to Market Perform from Outperform at Piper Jaffray.
  • JP Morgan cut Broadridge (NYSE: BR) to Neutral from Overweight.
  • RBC Capital downgraded Tween Brands (NYSE: TWB) to Sector Perform from Outperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrade: DRL, EL, ETFC and FDO

MOST NOTEWORTHY: American Capital (ACAS), Doral Financial (DRL), E-Trade Financial (ETFC) and Family Dollar (FDO) were today's noteworthy downgrade:
  • Jefferies downgraded shares of American Capital (NASDAQ: ACAS) to Hold from Buy citing the slowing M&A market and risk characteristics of the company.
  • Soleil downgraded Doral Financial (NYSE: DRL) to Sell from Hold, on the belief that the recent reverse stock split will increase short-selling activity and discourage speculative buying.
  • E-Trade Financial (NASDAQ: ETFC) was cut to Neutral from Buy at UBS, citing deteriorating trends in the credit/mortgage markets, lack of near-term catalysts; the firm does not see an M&A deal occurring near-term.
  • Goldman downgraded Family Dollar (NYSE: FDO) to Neutral from Buy, citing weakness in the low-end consumer and increased pressure from Wal-Mart (WMT)...
OTHER DOWNGRADES:
  • Wachovia downgraded Tween Brands (NYSE: TWB) to Market Perform from Outperform.
  • Estee Lauder (NYSE: EL) was downgraded to Neutral from Outperform at Credit Suisse.
  • Deutsche Bank cut Pearson (NYSE: PSO) to Hold from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required

Analyst upgrades 5-25-07: GSK, LNVGY, RFMD and TWB

MOST NOTEWORTHY: GlaxoSmithKline plc (GSK), RF Micro Devices, Inc (RFMD), BMC Software, Inc (BMC) and Tween Brands Inc (TWB) were today's noteworthy upgrades:
  • Jefferies upgraded shares of RF Micro Devices (NASDAQ: RFMD) to Buy from Hold and raised the target to $9.00 from $7.00 after their channel checks indicated RFMD's business has improved since its last earnings call.
  • Cowen raised BMC Software (NYSE: BMC) to Neutral from Underperform citing valuation and improvements in the cash flow for their upgrade.
  • Susquehanna upgraded Tween Brands (NYSE: TWB) to Positive from Neutral based on Justice's performance and recent buyback activity...
OTHER UPGRADES:
  • Lenovo Group Ltd (OTC: LNVGY) was upgraded at Credit Suisse to Neutral from Underperform; JP Morgan upgraded Lenovo to Overweight from Neutral.
  • Goldman upgraded CDI Corp (NYSE: CDI) to Buy from Neutral.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 2-16-07: Coke & Pepsi upgraded at Goldman

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).

Tween Brands down -- Women's retail looking bleak

Tween Brands (NYSE: TWB) is down over 3% on the day on two pieces of news:
  1. Competitor Coldwater Creek (NASDAQ: CWTR) cut its fourth quarter EPS outlook citing slower-than-expected customer traffic throughout holiday season. Wachovia said this is "not" company specific and is indicative of the weaker women's retail environment.
  2. Buckingham had cautious/negative comments on Tween Brands this morning. The firm advised remaining Neutral, citing a lack of clarity on the timing of improved apparel trend in the company's Limited TOO stores. January sales have not picked up as expected, prompting an unplanned "Buy 1 Get 1 at 50% off" markdown which could create additional downside to the firm's most recent 4Q06 EPS estimate.

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 25, 2009: 07:27 PM

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