Analysts' Upgrades and Downgrades
Analysts' Upgrades, Downgrades: Delta
TSC Staff
07/02/09 - 09:36 AM EDT
CHANGE IN RATINGS
Adtran (ADTN Quote) upgraded at Citigroup to Buy. $27 price target. Company has significant potential to accelerate revenue growth.
BJ Services (BJS Quote) downgraded at JPMorgan. Rating lowered to Underweight from Neutral. Price target lowered to $12 from $17. 2009 EPS estimates lowered to 76 cents from 85 cents.
Continental Airlines (CAL Quote) upgraded at Morgan Stanley. Rating raised to Overweight from Equal-weight. Introduces $12 price target. 2009 EPS estimates raised to $2.34 from 18 cents.
Cisco Systems (CSCO Quote) initiated at Deutsche Bank. Initiated with a Buy rating and $26 price target. Introduces 2009 EPS estimates of $1.12.
Delta Air Lines (DAL Quote) initiated at Morgan Stanley. Initiated with an Overweight rating and $9 price target. Introduces 2009 EPS estimates of -69 cents.
Energy Conversion Devices (ENER Quote) initiated at JPMorgan. Initiated with an Overweight rating and $28.50 price target. Introduces 2009 EPS estimates of 84 cents.
F5 Networks (FFIV Quote) initiated at Deutsche Bank. Initiated with a Hold rating and $37 price target. Introduces 2009 EPS estimates of $1.06.
First Solar (FSLR Quote) downgraded at JPMorgan. Rating lowered to Neutral from Overweight. Price target raised to $140 from $92. Maintains 2009 EPS estimates of $5.83.
Gran Tierra Energy (GTE Quote) initiated at JPMorgan. Initiated with a Neutral rating. Introduces 2009 EPS estimates of 18 cents.
Johnson Controls (JCI Quote) downgraded at Deutsche Bank. Rating lowered to Hold from Buy. Price target raised to $23 from $20. 2009 EPS estimates lowered to 39 cents from 42 cents.
Juniper Networks (JNPR Quote) initiated at Deutsche Bank with a Hold rating and $22 price target. Introduces 2009 EPS estimates of 47 cents.
Southwest Airlines (LUV Quote) downgraded at Morgan Stanley. Rating lowered to Underweight from Equal-weight. Introduces $6 price target. Raises 2009 EPS estimates to 26 cents from 22 cents.
Sunpower (SPWRA Quote) upgraded at JPMorgan. Rating raised to Neutral from Underweight. Price target raised to $25.00 from $15.50. Maintains 2009 EPS estimates of 51 cents.
Take-Two Interactive (TTWO Quote) upgraded at Kaufman to Buy. $14 price target. Company should post solid profits in 2010, even without a new Grand Theft Auto game.
STOCK COMMENTS / EPS CHANGES
Advanced Micro Devices (AMD Quote) target raised at Goldman to $1.50 from $1.30 to better reflect the seasonal/cyclical improvement in industry fundamentals in 2H2009. Maintained Sell rating.
Ball (BLL Quote) target raised at KeyBanc. Price target raised to $55 from $48. Maintains Buy rating and 2009 EPS estimates of $3.90.
Ball (BLL Quote) target increased at Credit Suisse to $48 from $45. The increase in numbers was prompted by the co. announcing that it will be buying four can plants from Anheuser-Busch InBev which produces 10 billion aluminum cans annually and increases revenue by $577M. Maintained Neutral rating.
General Mills (GIS Quote) target raised at Goldman to $64 from $63. The increase in numbers was prompted by reaffirming guidance for 2010, new products and continued brand investment, margin-driven earnings growth, and lower raw material costs. Maintained Buy rating.
Coca-Cola (KO Quote) target raised at Credit Suisse to $57 from $48. The co. seems poised for an acceleration in regards to growth and is less rigid and pragmatic considering the competitive pressures related to its bottling system. Maintained Outperform rating.
