CHANGE IN RATINGS
Americredit (ACF Quote - Cramer on ACF - Stock Picks) downgraded at Goldman Sachs to Sell from Neutral due to difficult and increasingly expensive access to funding. See potential for EPS shortfalls if company is forced to slow origination growth in light of weak environment. Price target lowered to $17 from $21.
AK Steel (AKS Quote - Cramer on AKS - Stock Picks) rated new Neutral at Credit Suisse. Cites management deserves recognition for sharp turnaround but pricing tied to automotive and stainless steel contracts translate into greater profit risks. Sets $42 target price.
Apollo Group (APOL Quote - Cramer on APOL - Stock Picks) was upgraded to Buy at Suntrust Robinson Humphrey. Enrollment trends should improve over the coming quarters, driven by the Axia business. $72 price target.
Caraustar (CSAR Quote - Cramer on CSAR - Stock Picks) upgraded at UBS
to Buy rating from Neutral. Price target dips to $4.80 from $6.50 and 2008 EPS estimates hold at $0.40.
Advanced Medical Optics (EYE Quote - Cramer on EYE - Stock Picks) upgraded at Jefferies to Hold rating from Under Perform. Price target and 2008 EPS estimates hold at $29 and $1.35, respectively.
Foot Locker (FL Quote - Cramer on FL - Stock Picks) downgraded at JP Morgan to Neutral. Company shows no signs of a near-term turnaround from its weak second quarter results.
Foot Locker 2008 estimates increased at Goldman to $0.56 from $0.50 following the company's Q2 results. Management continues to close underperforming stores, reduce aged inventory, and increase allocations of marquee merchandise. Maintained Neutral rating and $17 target.
TSC Staff
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