twti posts
FeedPosted Jul 15th 2008 11:47AM by Eric Buscemi (RSS feed)
Filed under: Analyst upgrades and downgrades, AT and T (T), Nokia Corp. (NOK), Amer Intl Group (AIG), , Alcatel-LucentADS (ALU)
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MOST NOTEWORTHY: Wachovia, American International Group and BT Group were today's noteworthy downgrades:
- Oppenheimer downgraded shares of Wachovia (NYSE: WB) to Underperform from Perform as they believe the outlook is "bleak" for equity shareholders. The firm thinks Wachovia's expenses can't come down fast enough too offset earnings erosion.
- Wachovia downgraded shares of American International Group (NYSE: AIG) to Market Perform from Outperform as they believe AIG's CDO valuations worsened in Q2, which could result in a $2B-$7B after tax "valuation adjustment." Wachovia expects the value of AIG's core insurance franchise to be obscured by its credit exposure.
- Collins Stewart cut BT Group (NYSE: BT) to Hold from Buy on concerns surrounding the company's fiber network expansion.
OTHER DOWNGRADES:
- Nokia (NYSE: NOK) was downgraded to Add from Buy at WestLB; the firm also lowered Ericsson (NASDAQ: ERIC) to Hold from Buy and Alcatel-Lucent (NYSE: ALU) to Sell from Hold.
- Third Wave (NASDAQ: TWTI) was cut to Hold from Buy at Deutsche Bank.
- AT&T (NYSE: T) was removed from Goldman's Conviction Buy List.
Posted Jun 30th 2008 1:00PM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Whole Foods Market (WFMI), Safeway Inc (SWY), Level 3 Communications (LVLT)
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MOST NOTEWORTHY: Texas Industries, TransGlobe Energy and Level 3 Communications were today's noteworthy downgrades:
- Stephens downgraded shares of Texas Industries (NYSE: TXI) to Equal Weight from Overweight as it believes higher energy costs will affect the company's ability to achieve its guidance. The firm lowered its target to $68 from $83.
- Jefferies assumed coverage and downgraded shares of TransGlobe Energy (NYSE:TGA) to Hold from Buy as it sees limited upside until the company completes its seismic activity and can better quantify its exploratory reserve potential. The firm lowered its target to $5.25 from $6.50.
- Citigroup downgraded Level 3 (NASDAQ: LVLT) to Sell from Hold as it believes the pullback in telecom valuations increases downside risk for the stock. Citigroup lowered their target price to $2.50 from $3.
OTHER DOWNGRADES:
Posted Jun 24th 2008 12:12PM by Eric Buscemi (RSS feed)
Filed under: Analyst upgrades and downgrades, Yahoo! (YHOO), United Parcel'B' (UPS)
MOST NOTEWORTHY: BJ's Wholesale, Affiliated Managers and Yahoo! were today's noteworthy downgrades:
- Citigroup downgraded shares of BJ's Wholesale (NYSE: BJ) to Hold from Buy on valuation and views a takeout as less likely given the current credit market conditions.
- Wachovia downgraded shares of Affiliated Managers (NYSE: AMG) to Market Perform from Outperform as they believe credit quality concerns and record commodity prices will hinder the company's recovery in equity flows.
- Thomas Weisel downgraded Yahoo! (NASDAQ: YHOO) to Underweight from Market Weight based on visibility into fundamentals and another potential reorganization that will likely be met with skepticism.
OTHER DOWNGRADES:
Posted May 2nd 2008 11:05AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst initiations
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MOST NOTEWORTHY: Third Wave, DryShips and Hil-Rom Holdings were among today's noteworthy initiations:
- Third Wave (NASDAQ: TWTI) was initiated with a Buy, target $12 at Deutsche which said the company is compelling small-cap opportunity in molecular diagnostics with an $1B-plus opportunity in the HPV market.
- DryShips (NASDAQ: DRYS) was initiated with an Outperform, target $110 at Credit Suisse, which is positive on the company's growth opportunity and is bullish on dry bulk rates into 2009.
- Hil-Rom Holdings (NYSE: HRC) was initiated with an Outperform at Oppenheimer which believes 2H08 will be an inflection point for Hill-Rom, with revenue, margin expansion, and earnings growth all beginning to accelerate. The firm believes that the company's performance will improve due to its efforts to complete spending on R&D, reinvigorate its brand, and find low-cost sourcing and manufacturing alternatives.
OTHER INITIATIONS:
- Imperial Tobacco (NYSE: ITY) coverage was resumed with a Buy at Merrill Lynch.
- ICU Medical (NASDAQ: ICUI) was initiated with a Buy, target $35 at Jesup & Lamont, which is positive on the company's valuation, strong balance sheet, growth in oncology and expectations for gross margin improvement.
Posted Nov 26th 2007 11:55AM by Eric Buscemi (RSS feed)
Filed under: Analyst initiations
MOST NOTEWORTHY: Concur Tech, TranS1 and Third Wave were today's noteworthy initiations:
- Broadpoint initiated Concur Tech (NASDAQ: CNQR) with a Strong Buy rating and $40 target. The firm believes Concur has attractive growth drivers, room for leverage, and is a market leader for innovation and growth. Wachovia is positive on TraS1's AxiaLIF procedure in lumbar fusions as it is less invasive and patients have a faster recovery period. The firm views the potential market at over $1B and started shares off with an Outperform rating.
- Shares of TranS1 (NASDAQ: TSON) were also initiated with a Buy rating and $27 target at Piper Jaffray, as they believe the company's focus on minimally invasive surgical technique for treating lower back pain provides a large market opportunity, and at Cowen with an Outperform rating, as they positive on TSON's minimally invasive platform in spinal fusions that should leaded rapid growth.
- Collins Stewart said Third Wave (NASDAQ: TWTI) is on track to file PMA submissions for 2 new screening tests for HPV by early next year and started shares with a Buy rating and $11 target.
OTHER INITIATIONS:
- Piper initiated Ardea Biosciences (NASDAQ: RDEA) with a Buy rating.
- JP Morgan initiated Lukoil (NASDAQ: LUKOY) with a Neutral rating.
- Cowen started shares of Limelight Networks (NASDAQ: LLNW) with a Neutral rating.
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