Thursday's Analysts' Upgrades and Downgrades
CHANGE IN RATINGSAcme Packet (APKT) upgraded at Piper Jaffray to Outperform from Market Perform. Company reported a great second quarter beating analysts estimates in revenues and gross and operating margins. Customer concentration is improving. $15 price target.
Acme Packet upgraded at Deutsche Bank to Buy from Hold. Signs of increasing customer adoption mark a potential inflection point. Current valuation marks a favorable risk/reward. Price target raised to $15 from $13.
Bare Escentuals (BARE) downgraded at CIBC from Outperform to Sector Perform. $48 price target. Company's infomercial business continues to deteriorate.
Broadcom (BRCM) upgraded at CIBC from Sector Perform to Outperform. DTV, bluetooth headset 802.11n and gaming opportunities all appear poised to ramp. $40 price target.Corinthian Colleges (COCO) upgraded at Piper Jaffray to outperform and raises price target from $12 to $17. Cubic (CUB) upgraded at FBR to Market Perform rating from Under Perform. Price target upped to $28 from $24 and FY 2008 eps estimates jump to $1.59 from $1.35. Electronic Data Systems (EDS) downgraded at Jefferies to Hold rating from Buy. Price target lowered to $27 from $34, and FY 2008 eps estimates drop to $1.78 from $1.84. Electronic Data Systems downgraded at Merrill to Neutral. Company cut free cash flow guidance. Endo Pharma (ENDP) downgraded at UBS to Neutral rating from Buy. Price target lowered to $38 from $40, and FY 2008 eps estimates drift down to $2.12 from $2.13.
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