Analysts' Upgrades and Downgrades
Analysts' Upgrades, Downgrades: Nike
TSC Staff
12/18/08 - 09:34 AM EST
CHANGE IN RATINGS
Adtran (ADTN Quote) downgraded at Morgan Stanley to Equal-weight and 2009 and 2010 estimates reduced.
Aflac (AFL Quote) downgraded at Citigroup from Buy to Hold. $50 price target. Valuation call, as risks are rising in the company's investment portfolio.
Atheros (ATHR Quote) downgraded at Jefferies from Buy to Hold. $14 price target. Estimates also cut, to reflect weakness in the general semiconductor market.
BB&T (BBT Quote) downgraded at Goldman Sachs to Sell from Neutral due to exposure to Florida and Georgia. Believe real estate problems in those states are accelerating and underestimated. Price target cut to $24 from $28.
Blackrock (BLK Quote) upgraded at Morgan Stanley to Overweight from Equal-weight and is now a top pick.
Bucyrus (BUCY Quote) downgraded at JP Morgan to Underweight from Neutral based on expected negative revisions to earnings through 2010. Price target at $23.
Comerica (CMA Quote) upgraded at Goldman Sachs to Neutral from Sell. Price target unchanged at $23.
Joy Global (JOYG Quote) downgraded at JP Morgan to Neutral. $25 price target.
Kohl's (KSS Quote) downgraded at Merrill from Buy to Neutral. $40 price target.
NYSE Euronext (NYX Quote) downgraded at Jefferies from Buy to Hold. $32 price target.
Steel Dynamics (STLD Quote) upgraded at Barclays to overweight and price target of $18 remains unchanged.
MEMC Electronic (WFR Quote) downgraded at Merrill from Buy to Underperform. $16 price target. Estimates also cut.
U.S. Steel (X Quote) downgraded at Goldman Sachs to Neutral from Buy based on 17.7% gain since Dec. 8 upgrade. Price target unchanged at $41.
STOCK COMMENTS / EPS CHANGES
Caterpillar (CAT Quote) estimates cut at Morgan Stanley through 2010. Underweight rating and $31 price target.
Morgan Stanley (MS Quote) target lowered at Credit Suisse to $30 from $40. Maintained Outperform rating.
Micron (MU Quote) numbers reduced at Morgan Stanley. Shares now seen reaching $6.50. Equal-weight rating.
Nike (NKE Quote) numbers cut at Barclays. Shares now seen reaching $70. Overweight rating.
Paychex (PAYX Quote) numbers lowered at Barclays. Estimates cut through 2010. Equal-weight rating and new $28 price target.
Penn National Gaming (PENN Quote) price target up at Goldman to $25 from $23. Maintained Buy rating.
RadioShack (RSH Quote) numbers cut at Merrill. Shares now seen reaching $10. Estimates also lowered. Underperform rating.
WellCare Health Plans (WCG Quote) target cut at Credit Suisse to $13 from $49 based on legal, financial and operational challenges. Maintained Neutral rating.
U.S. Steel numbers cut at Barclays. Shares now seen reaching $45. Estimates also lowered. Equal-weight rating.
