CHANGE IN RATINGS
downgraded at Friedman, Billings: AMH was downgraded from Outperform to Market Perform, Friedman, Billings Ramsey said. Stock is now trading within 2% of Aviva's $69 takeover offer.
upgraded at JP Morgan: CKH was upgraded from Neutral to Overweight, JP Morgan said. Core businesses should continue to perform well, because of strong demand and tight capacity. Estimates also increased.
rated new Outperform at Credit Suisse: Credit Suisse said it is initiating coverage on CTSH with an Outperform rating. Believes environment for offshore remains strong and company's strong brand name and its investments in sales should lead to strong revenue. Sets $80 target price.
rated new Outperform at Credit Suisse: Credit Suisse said it is initiating coverage on GLW with an Outperform rating. Believes LCD TV cycle is only in second inning. Sets $24 target price.
downgraded at UBS: UBS downgraded KFT to Reduce from Neutral and lowered its price target to $32 from $35. 2006 estimates were lowered two cents to $1.95 and 2007 estimates were reduced to $2.01 from $2.10. The company could see increasing input cost inflation which may not be offset by pricing.
downgraded at Friedman, Billings: Rating on N was lowered to Market Perform, Friedman, Billings Ramsey said. Upside limited, following the $77 a share cash bid from CVRD. PD offers better value, at current levels.
STOCK COMMENTS / EPS CHANGES
estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on A to $1.51 from $1.43 after solid F3Q results. Maintained Neutral rating and $33 target price.