TSC Staff
Tribune(TRB Quote - Cramer on TRB - Stock Picks) was downgraded from Overweight to Underweight, Prudential said. $30 price target. Auction to sell the entire company largely failed, and the newspaper industry fundamentals remain poor.
Stock Comments/EPS Changes
Credit Suisse said it is lowering its 2007 EPS estimates on Acco Brands(ABD Quote - Cramer on ABD - Stock Picks) by 10 cents to $1.44 following pre-announced profit shortfall for Q4. Maintained Outperform rating. 2006 estimates on Citigroup(C Quote - Cramer on C - Stock Picks) reduced to $4.30 from $4.37, Goldman said. Recent announcement that company would reposition consumer finance business in Japan, taking a $40 million after-tax charge. Target price at $59 and maintained Neutral rating. Amdocs(DOX Quote - Cramer on DOX - Stock Picks) numbers lowered at Jefferies. Price target drops to $40 from $42. 2007 EPS estimates lowered to $2.08 from $2.11. Reiterates Buy rating. Goldman said it is raising its target on JPMorgan(JPM Quote - Cramer on JPM - Stock Picks) to $52 from $50 following better-than-expected Q4 results, driven by investment banking and one-time corporate items. 2007 estimates raised to $4.10 from $4.00 and maintained Neutral rating. Target on Progressive(PGR Quote - Cramer on PGR - Stock Picks) lowered to $24 from $26, Goldman said. See narrowing leadership gap in personal auto business as competitors play catch up and improve approach, and subsequent reduction in premium multiple applied to shares. Maintain Sell rating.
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