Analysts' Upgrades and Downgrades
Analysts' Upgrades, Downgrades: Intuit
TSC Staff
08/22/08 - 08:48 AM EDT
Change in Ratings
Advance Auto Parts (AAP Quote) initiated at UBS with a Hold rating and $36 price target. Introduces 2008 EPS estimates of $2.71.
Autozone (AZO Quote) initiated at UBS with a Neutral rating and $140 price target. Introduces 2008 EPS estimates of $10.02.
Burger King (BKC Quote) downgraded at UBS to Hold from Buy. Fiscal 2009 EPS estimates lowered to $1.58 from $1.62. Price target lowered to $28 from $35.
Chico's FAS (CHS Quote) upgraded at Goldman to Neutral from Sell. Expects continued disappointments on earnings but sees less downside following 23% selloff in the stock since initiation.
Las Vegas Sands (LVS Quote) downgraded at BofA to Sell. Stock still trades at a premium valuation even after its recent selloff. The company also faces funding needs across its entire business.
Nordson (NDSN Quote) downgraded at Keybanc from Buy to Hold. Tech orders are decelerating, which is cutting into industrial profits. Estimates also cut.
O'Reilly Automotive (ORLY Quote) initiated at UBS with a Buy rating and $38 price target. Introduces 2008 EPS estimates of $1.59.
Stock Comments/EPS Changes
Burger King target cut at Morgan Stanley. Shares now seen reaching $32. Lower same-store sales and higher remodeling costs could hurt near-term margins, but should reverse by early 2009. Overweight rating.
Frontline (FRO Quote) numbers lowered at Jefferies. 2008 EPS estimates lowered to $7.42 from $8.10. Price target lowered to $56 from $60. Maintains Hold rating.
Intuit (INTU Quote) price target raised at Jefferies to $34 from $33. Fiscal 2009 EPS estimates lowered to $1.89 from $1.93. Maintains Buy rating. Credit Suisse said it is raising its target price on Intuit to $40 from $35. Believes company deserves premium to the market based on its defensive business model. Maintained Outperform rating.