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Analyst calls: CBY, MRX, EMC, WSM, TSRA, DAI, PALM, RTP, INTU, BHP, RGC ...

Analyst upgrades:
  • Citigroup upgraded shares of Cadbury (NYSE: CBY) to Hold from Sell on the company's pricing initiatives and their expectations for margin expansion.
  • Jefferies upgraded shares of Medicis (NYSE: MRX) to Buy from Hold and raised its target to $16 from $12.50 as they believe the company's settlement with Impax should lift valuation and drive higher earnings.
  • Cowen upgraded Williams-Sonoma (NYSE: WSM) to Neutral from Underperform on valuation. Shares were also upgraded at Merrill Lynch to Buy from Underperform.
  • Signet Group (NYSE: SIG) was raised to Neutral from Sell at Goldman.
  • EMC Corp (NYSE: EMC) was upgraded to Buy from Accumulate at ThinkPanmure.
  • DSP Group (NASDAQ: DSPG) was upgraded at RBC Capital to Sector Perform from Underperform.
Analyst downgrades:

Continue reading Analyst calls: CBY, MRX, EMC, WSM, TSRA, DAI, PALM, RTP, INTU, BHP, RGC ...

Analyst initiations: First Bancorp. and Volcom

MOST NOTEWORTHY: First Bancorp. and Volcom were today's noteworthy initiations:

  • B. Riley initiated First Bancorp. (NYSE: FBP) with a Buy rating, citing the company's balance sheet growth, reduced expenses and strong capital base.
  • Volcom Inc. (NASDAQ: VLCM) was also initiated with a Buy rating by B. Riley, as the firm believes the company can grow its business through further penetration into domestic markets, brand extension into new categories and increased demand for its brands.
OTHER INITIATIONS:

Analyst downgrades 7-27-07: AN, CCE, DRI and TSM

MOST NOTEWORTHY: QLogic (QLGC), Cnet Networks (CNET), Taiwan Semiconductor (TSM), Darden Restaurants (DRI) and Anadys Pharma (ANDS) were today's noteworthy downgrades:
  • QLogic (NASDAQ: QLGC) was cut by several firms:
    • QLogic was cut to Neutral from Outperform and removed from JP Morgan's Focus List due to the lack of catalysts to drive shares higher.
    • Caris cut shares to Average from Above Average and Pacific
    • Crest downgraded QLogic to Sector Perform from Outperform as the company's profits decline.
  • Citigtroup downgraded CNet Networks (NASDAQ: CNET) to Hold from Buy as they no longer expect material revenue growth acceleration and operating leverage in 2H07; First Albany cut shares to Neutral from Buy.
  • HSBC downgraded shares of Taiwan Semiconductor (NYSE: TSM) to Neutral from Overweight to reflect worse than expected pricing pressures.
  • Matrix downgraded shares of Darden Restaurants (NYSE: DRI) to Hold from Buy on increasing competition and rising costs.
  • Piper cut Anadys Pharma (NASDAQ: ANDS) to Underperform from Outperform following the company's announcement that it has discontinued development of ANA975...
OTHER DOWNGRADES:
  • Bear Stearns downgraded AutoNation (NYSE: AN) to Peer Perform from Outperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 4-19-07: PEET, MRK, VCLM and ZQK initiated today

MOST NOTEWORTHY: Jamba, Inc (JMBA), Quiksilver Inc (ZQK), Volcom, Inc (VLCM) and Interactive Data Corp (IDC) were today's noteworthy downgrades:
  • Oppenheimer believes Jamba (NASDAQ: JMBA) is in the early stages of a solid top- and-bottom-line growth story and is one of the few opportunities today that offers sizable square foot growth, revenue and earnings growth, all with several years of visibility.
  • Quiksilver Inc (NYSE: ZQK) was initiated with an Accumulate rating and $14 target at ThinkEquity.
  • ThinkEquity also initiated shares of Volcom Inc (NASDAQ: VLCM) with a Buy rating.
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 1-11-07: Bernstein raises its glass to the U.S. beverage sector

MOST NOTEWORTHY: The U.S. Beverage Sector topped today's list of upgrades.
  • Bernstein upgraded the U.S. Beverage Sector to Marketweight from Underweight because the group is trading closer to fair value.
    • Bernstein upgraded Anheuser-Busch Cos (NYSE: BUD) to Market Perform from Underperform with a $54 target; the firm expects upside to earnings and valuation support.
    • Pepsi Bottling Group (NYSE: PBG) was upgraded to Outperform from Market Perform with a $38 target; the firm believes negative earnings revisions from their third-quarter miss are over and 2007 guidance looks conservative.
OTHER UPGRADES:
  • UBS upgraded Cooper Companies (NYSE: COO) to Neutral from Reduce to reflect the possibility of a takeout; they feel likely acquirers are Essilor or Alcon (ACL).
  • Wachovia upgraded Volcom Inc (NASDAQ: VLCM) to Outperform from Market Perform; the firm's analysis indicate Volcom's brand remains strong, footwear is off to a good start and outerwear is not an area of exposure.
  • Lehman Bros. upgraded shares of Vodafone Group ADR (NYSE: VOD) to Overweight from Equal Weight.
  • Citigroup upgraded Nintendo ltd ADS (OTC: NTDOY) to Buy from Hold.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-10.2810,216.66
NASDAQ-8.012,146.05
S&P 500-3.041,090.04

Last updated: November 10, 2009: 01:42 PM

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