CHANGE IN RATINGS
Cigna (CI Quote) upgraded at Citigroup from Sell to Hold. $10 price target. Valuation call, as the stock is already pricing in continued portfolio risk.
Motorola (MOT Quote) coverage reinstated at Goldman Sachs. Goldman said it is removing the Not Rated designation from Motorola and now rates shares Neutral. Believe there is significant intrinsic value in company but see headwinds from market share losses and financial turbulence. Target price at $4.
Solera Holdings (SLH Quote) coverage initiated at Goldman Sachs with a Neutral rating based on attractive fundamentals along with near-term uncertainties surrounding acquisition plans and CFO retirement. Price target at $17.
STOCK COMMENTS / EPS CHANGES
Cooper Industries (CBE Quote) numbers cut at Morgan Stanley. Target cut to $31. Estimates also lowered to match the company's new guidance. Equal-weight rating.
Cigna target cut at Credit Suisse to $19 from $25. Believes from an operating standpoint, 2009 will be very challenging but comfortable with capital outlook. Maintained Outperform rating.
STRATEGY CALLS / MARKET CALLS
S&P 500 targets cut at Citigroup. Citi lowered its year-end price target on the S&P 500 to 850, as catalysts have failed to ignite stocks. 2009 target also reduced to 1200.
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