Analysts' Upgrades and Downgrades
Friday's Analysts' Upgrades, Downgrades
TheStreet.com Ratings Staff
04/04/08 - 09:26 AM EDT
Change in Ratings
Allegheny Technologies(ATI Quote - Cramer on ATI - Stock Picks) downgraded at Cowen to neutral. Consensus analyst estimates look too high, ahead of the upcoming quarterly report.
CSX(CSX Quote - Cramer on CSX - Stock Picks) downgraded at Merrill from buy to neutral. Valuation call, ahead of the June 25 proxy vote.
Dell(DELL Quote - Cramer on DELL - Stock Picks) downgraded at Goldman from buy to neutral. Also lowering its target on DELL to $23 from $25 based on slow progress of the company's turnaround. See limited near-term catalysts and believe macro environment will make the transformation more difficult.
Hercules Offshore(HERO Quote - Cramer on HERO - Stock Picks) initiated at Goldman Sachs with a neutral rating. See long-term upside potential based on solid jackup market in Gulf of Mexico, but see near-term earnings coming in below Street expectations. Price target at $32.
Jackson Hewitt(JTX Quote - Cramer on JTX - Stock Picks) upgraded at Goldman Sachs to buy from neutral based on attractive valuation. Forecasts remain weak, but note that market is already pricing in a bad tax season. Price target raised to $18 from $14.
NASDAQ OMX(NDAQ Quote - Cramer on NDAQ - Stock Picks) initiated at UBS with a neutral rating and $44 price target. Initiated 2008 EPS estimates of $1.92.
NYSE Euronext(NYX Quote - Cramer on NYX - Stock Picks) initiated at UBS with a neutral rating and $72 price target. Initiated 2008 EPS estimates of $3.30.
Riverbed Tech(RVBD Quote - Cramer on RVBD - Stock Picks) downgraded at Deutsche from buy to hold with a $12 price target. Company warned of lower sales, driven by macro weakness. Estimates also cut.
