Wednesday's Analysts' Upgrades and Downgrades
Change in Ratings
Benchmark Electronics (BHE) downgraded by Bear Stearns. Rating lowered to Peer Perform from Outperform. 2007 EPS estimates lowered to $1.73 from $1.81. Introduces 2008 EPS estimates of $1.86. Price target was removed.
Morgan Stanley upgrades Broadcom (BRCM) from equalweight to overweight with a $40 price target.
Ceradyne (CRDN) was upgraded from Underperform to Market Perform, Friedman Billings Ramsey said. Stock has come down 13% over the past month, and the 2008 defense budget should favor the company. $50 price target.Cisco (CSCO) was upgraded from Neutral to Outperform, Robert Baird said. $32 price target. Growth rates are accelerating, and the current margins appear sustainable. CSCO numbers raised at UBS. Price target upped to $33 from $32. 2007 EPS estimates bump up to $1.21 from $1.17. Reiterates Buy rating. CommScope (CTV) initiated with Buy rating at Jefferies. Price target starts at $37.50. 2007 EPS estimates set at $1.95. Goldman said it is upgrading Earthlink (ELNK) to Neutral from Sell based on valuation. Believe floor has emerged due to buybacks near $7, and potential for restructuring event such as LBO. Price target raised to $7 from $6.60. Globalstar (GSAT) downgraded to Hold rating from Buy at Jefferies. Price target drops to $11.50 from $17.00. Revenue and EPS estimates for 2007 holds at $175.2 million and $0.39, respectively.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV