TSC Staff
Herbalife (HLF Quote - Cramer on HLF - Stock Picks) coverage initiated at Goldman Sachs with a Buy rating, based on continuing revenue and earnings growth in attractive health/wellness space. See top and bottom-line growth of 10% and 18%, respectively. Shares appear inexpensive. Price target at $50.
Heartland Payment Systems (HPY Quote - Cramer on HPY - Stock Picks) downgraded at Citigroup to Hold from Buy due to limited upside following strong recent share performance. Business remains solid, with Q2 results coming in ahead of estimates, however risk/reward is now less attractive. Target price raised to $34.50 from $32. Horizon Lines (HRZ Quote - Cramer on HRZ - Stock Picks) upgraded at UBS to Buy rating from Neutral. Price target jumps to $40 from $35, but FY 2008 eps estimates dip to $2.24 from $2.33. KBR (KBR Quote - Cramer on KBR - Stock Picks) upgraded at Wachovia to Outperform from Market Perform. The Macedonia embassy snafu aside, project execution has exceeded expectations in '07. Prompt changes inside the organization have yielded some project wins. Lear (LEA Quote - Cramer on LEA - Stock Picks) upgraded at Baird to Outperform rating from Market Perform. Price target jumps to $45 from $41 and FY 2008 eps estimates upped to $3.30 from $3.05. Legg Mason (LM Quote - Cramer on LM - Stock Picks) upgraded at Citigroup to Buy from Hold based on valuation. See lowered expectations and growth in assets under management enabling shares to appreciate going forward. Price target raised to $108 from $106. Nortel (NT Quote - Cramer on NT - Stock Picks) downgraded at Weisel to Market-weight. Expected positive results this quarter, but revenue was disappointing. Network Appliance (NTAP Quote - Cramer on NTAP - Stock Picks) downgraded at Bear Stearns to Underperform from Peer Perform. The company continues to exhibit business deterioration, diminishing prospects for a resumption to historic growth, and concerns over execution/competitive issues. Estimates lowered. Network Appliance upgraded at Citigroup to buy with a price target of $31. Network Appliance 2008 estimates lowered at Goldman to $0.81 from $1.00 based on difficult competitive environment and slower storage growth. Maintained Neutral rating and $25 price target.
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