CHANGE IN RATINGS
ACCO Brands (ABD Quote) downgraded at Deutsche:
ABD was downgraded from Buy to Hold at Deutsche Bank. $26 price target. Estimates also lowered, as a potential earnings recovery has been pushed out to 2008.
AK Steel (AKS Quote) downgraded at JP Morgan:
AKS was downgraded from Overweight to Neutral at JP Morgan. Recent insider selling suggests an acquisition is not likely to materialize in the near term. Stock is also already pricing in solid first quarter results.
Autonation (AN Quote) downgraded at Morgan Stanley:
Morgan Stanley downgrades Autonation from equalweight to overweight.
Apollo Group (APOL Quote) upgraded at Merrill:
APOL was upgraded from Neutral to Buy at Merrill Lynch. $55 price target. Company is still in the early stages of a turnaround and trades at a significant discount to its peers.
Apollo Group numbers raised at UBS:
APOL numbers raised at UBS. Price target jumps to $48 from $40. 2007 eps estimates rise to $2.44 from $2.33. Reiterates Neutral rating.
Atwood Oceanics (ATW Quote) upgraded at Jefferies:
ATW upgraded to Buy rating from Hold at Jefferies. Price target jumps to $67 from $53 and 2007 eps estimate hold at $4.41.
Cheesecake Factory (CAKE Quote) upgraded at Piper Jaffray:
CAKE upgraded to Market Perform rating from Under Perform at Piper. Price target bumps up to $26 from $24 and 2007 eps estimate remain at $1.20.
China Mobile (CHL Quote) upgraded at Morgan Stanley:
Morgan Stanley upgrades China Mobile from equalweight to overweight.
Digital River (DRIV Quote) upgraded at Oppenheimer:
DRIV was upgraded from Neutral to Buy at Oppenheimer. $58 price target. Stock is down 11% on the year, though the fundamentals remain quite strong.
EMC (EMC Quote) upgraded at Raymond James:
EMC was upgraded to Outperform at Raymond James. Company set to monetize VMWare, which is a major growth driver.
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TSC Staff
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