CHANGE IN RATINGS
Cintas (CTAS Quote) upgraded at Citigroup from Sell to Hold. $24 price target. Lower energy costs will help offset the deteriorating economy.
Genzyme (GENZ Quote) upgraded at Oppenheimer to Outperform. $75 price target. Expect two near-term product approvals to help drive the stock.
Strayer Education (STRA Quote) downgraded at Morgan Stanley from Equal-weight to Underweight. $215 price target. Valuation call, as unemployment is rising in the company's target markets.
Wynn Resorts (WYNN Quote) rated new Sell at Citigroup. New Encore casino in Las Vegas and commission caps in Macau add risks to the business model. $29 price target.
STOCK COMMENTS / EPS CHANGES
Bed Bath & Beyond (BBBY Quote) numbers lowered at Barclays. 2008 EPS estimates lowered to $1.60 from $1.82. Price target lowered to $23 from $33. Maintains Equal-weight rating.
CVS (CVS Quote) price target lowered at Barclays to $36 from $42. Maintains Overweight rating and 2008 EPS estimates of $2.44.
General Electric (GE Quote) target cut at Barclays to $20 from $24 to reflect higher provisions in a downsized GE Capital. Maintained Overweight rating.
Google (GOOG Quote) target lowered at Bank of America to $500 from $650 based on lower expectations for 2009. Search business trends are in decline due to weakness in both usage and monetization. Also note weakness in retail and travel sectors. Maintained Buy rating.
Micron Technology (MU Quote) target lowered at Barclays to $4 from $6 based on limited visibility on timeframe for further industry consolidation and ongoing losses. Maintained Equal-weight rating.
Research in Motion (RIMM Quote) price target lowered at Goldman to $62 from $68 and removing it from the Americas Conviction Buy List. Company's negative preannouncement indicates weakness in Curve and Pearl, and Street estimates will need to be reset lower. Maintained Buy rating.
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