Wednesday's Analysts' Upgrades and Downgrades
CHANGE IN RATINGS
Coca-Cola Enterprises (CCE Quote) downgraded at Deutsche Bank to a Hold rating as stock has hit $25 target price and fundamental trends appear mixed. US Airways (LCC Quote) coverage initiated at Morgan Stanley with an overweight rating and $44 price target. R.H. Donnelley (RHD Quote) downgraded at Goldman Sachs to Neutral from Buy based on deteriorating local ad trends. Impact from slowing housing market and negative trends in the company's major metro markets are having a greater impact than originally anticipated. Price target cut to $67 from $77. Sirius Satellite (SIRI Quote) downgraded at UBS to Neutral rating from Buy. FY 2008 EPS estimates lower to $(0.42) from $(0.40) while price target rises to $3.90 from $3.75. XM Satellite (XMSR Quote) downgraded at UBS to Neutral rating from Buy. However, FY 2008 EPS estimates rise to $(1.61) from $(1.68) and price target lifts to $16 from $15. Horsehead Holding (ZINC Quote) coverage initiated at FBR with an Outperform rating and $27 target price. Multiple expansion expected and company could be a takeout candidate.STOCK COMMENTS / EPS CHANGES
Barrick Gold (ABX Quote) target raised at Goldman to $42 from $38 based on continuing improvements in gold fundamentals and demand trends from investors and central banks. See potential for gold prices to end 2007 above $725/oz. due in part to weakening U.S. dollar. TD Ameritrade (AMTD Quote) numbers raised at UBS. Price target lifts to $21 from $20 and 2008 EPS estimates bump up to $1.05 from $1.03. Reiterates Buy rating.- Loading Comments...
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