CHANGE IN RATINGS
downgraded at UBS to Reduce rating from Neutral. Price target and 2007 EPS estimates hold at $29 and $1.80, respectively.
Advanced Micro Devices
upgraded at JMP Securities to Market Outperform from Market Perform based on several long-term catalysts including strong sales for new products and potential spin-off of units. Maintained $17 target price.
upgraded at AG Edwards to Buy from Hold based on valuation. Expects accelerated growth in volume and pricing terms. Establishes $55 price objective.
downgraded at Goldman Sachs to Sell from Neutral based on lack of catalysts and continuing challenges, which include margin pressure as Wagner patent revenues roll off, limits to revenue upside due to fixed pricing models, and competition in new product areas like cash equities and FX. Price target at $7.
International Gaming Technology
upgraded at Goldman Sachs to Buy from Neutral based on valuation. Shares have pulled back 20% from January highs. Goldman believes concerns over competition and the timing of downloadable gaming are overblown. Target price at $46.
upgraded at UBS to Buy rating from Neutral. Price target and 2007 EPS estimates hold at $34 and $1.01, respectively.
upgraded at Credit Suisse to Outperform from Neutral based on valuation. Raised target price to $36 from $35.