Analysts' Upgrades and Downgrades
Tuesday's Analysts' Upgrades, Downgrades
TheStreet.com Ratings Staff
04/15/08 - 09:17 AM EDT
Change in Ratings
Affymetrix(AFFX Quote - Cramer on AFFX - Stock Picks) downgraded at Bear to underperform. Estimates also cut, as the company warned of lower sales. $12 price target.
Blockbuster(BBI Quote - Cramer on BBI - Stock Picks) downgraded at JPMorgan from overweight to neutral. Do not like the proposed
Circuit City(CC Quote - Cramer on CC - Stock Picks) deal, as synergies will be difficult to realize. Estimates also cut, to reflect management's latest guidance.
Black & Decker(BDK Quote - Cramer on BDK - Stock Picks) initiated at UBS with a neutral rating and $72 target price. Initiated 2008 EPS estimates of $5.50.
Bemis(BMS Quote - Cramer on BMS - Stock Picks) upgraded at Merrill from sell to neutral. Expectations are low, though the company generates solid free cash flow and pays a hefty dividend.
Crocs(CROX Quote - Cramer on CROX - Stock Picks) downgraded at Weisel to market-weight. Company warned of lower sales, and with high fixed costs, margins continue to de-lever.
CSX(CSX Quote - Cramer on CSX - Stock Picks) upgraded at UBS. Short-term rating raised to a buy and reiterated neutral 12-month rating. Raised 2008 EPS rating of $3.97 from $3.95 and price target of $62 from $60.
Masco(MAS Quote - Cramer on MAS - Stock Picks) initiated at UBS with a neutral rating and $20 price target. Initiated 2008 EPS estimates at 90 cents.
Massey Energy(MEE Quote - Cramer on MEE - Stock Picks) upgraded at JPMorgan from neutral to overweight. Company should benefit from higher metallurgical coal prices through 2009.
Mohawk Industries(MHK Quote - Cramer on MHK - Stock Picks) initiated at UBS with a buy rating and a $95 price target. Initiated 2008 EPS estimates of $5.70.
Seaspan(SSW Quote - Cramer on SSW - Stock Picks) initiated at Jefferies with a buy rating, $33 price target and 2008 EPS estimates of $1.28.
Stock Comments/EPS Changes
Affymetrix 2008 EPS estimates lowered at UBS to 31 cents from 42 cents. Reiterated buy rating and $22 price target.
Boeing(BA Quote - Cramer on BA - Stock Picks) price target lowered at UBS to $75 from $80. Maintains 2008 EPS estimates of $5.93 and sell rating.
Wachovia(WB Quote - Cramer on WB - Stock Picks) 2008 EPS estimates lowered at UBS to $1.92 from $3.40. Price target lowered to $35 from $39. Maintains buy rating.
