CHANGE IN RATINGS
Cabela's (CAB Quote - Cramer on CAB - Stock Picks) upgraded at Wachovia to Outperform. Fundamental improvements seem sustainable in second half of '07. Positive same-store-sales, increasing merchandise gross margins, and better visibility in store openings.
DaVita (DVA Quote - Cramer on DVA - Stock Picks) upgraded at Piper to a Market Perform rating due to a strong Q2 and management's more optimistic view of 2008.
EDO (EDO Quote - Cramer on EDO - Stock Picks) upgraded at Suntrust Robinson Humphrey
to Buy. $45 price target. Company posted mixed quarterly results, but estimates could prove conservative because of the potential of the CREW program.
Eagle Bulk Shipping (EGLE Quote - Cramer on EGLE - Stock Picks) upgraded at Wachovia
from Market Perform to Outperform. Company believes that drybulk demand should remain strong, and the recent acquisition should give management improved capacity.
Eastman Chemical (EMN Quote - Cramer on EMN - Stock Picks) initiated at Morgan Stanley with an overweight rating and $80 price target.
Entegris (ENTG Quote - Cramer on ENTG - Stock Picks) downgraded at Deutsche Bank from Buy to Hold. $9 price target. Company posted a weak quarter, as growth drivers have been elusive. Accelerated buyback is not enough to instill confidence.
Expedia (EXPE Quote - Cramer on EXPE - Stock Picks) upgraded at JP Morgan from Neutral to Overweight. US bookings should accelerate, stabilizing margins. Also expect management to buyback more shares.
Expedia price target raised at Goldman to $27 from $22 based on favorable gross bookings and revenues in Q2. High margin advertising continues to grow in importance while gross bookings accelerated in all key segments. Maintained Neutral rating.
Fiserv (FISV Quote - Cramer on FISV - Stock Picks) upgraded at CIBC to Outperform from Sector Perform. Company announced a definitive agreement to acquire CKFR for $48/share in a cash deal perhaps below what was thought to be accepted. Stock trades at a 17% discount to closest competitor.
GulfMark Offshore (GLF Quote - Cramer on GLF - Stock Picks) downgraded at Jefferies
to Hold rating from Buy. Price target drops to $53 from $57, and FY 2007 eps estimates dip to $5.07 from $5.71.
Hudson City Bancorp (HCBK Quote - Cramer on HCBK - Stock Picks) upgraded at Merrill Lynch to Buy from Neutral. Says strong credit quality offers protection as mortgage market continues to deteriorate. Sets $13.50 target price.
TSC Staff
RSS
