CHANGE IN RATINGS
upgraded at JP Morgan from Neutral to Overweight. Stock remains attractive on a sum of the parts basis. Share buybacks and restructuring could also add to earnings.
upgraded at Credit Suisse to Outperform from Neutral. Cites recent weakness and the recognition that company has undergone broad based change. Lowered target price to $42 from $46.
upgraded at Credit Suisse to Outperform from Neutral based on announcement of new CEO and greater confidence in intermediate and longer-term prospects. Raised target price range to $80 - $85.
upgraded at Bernstein from Market Perform to Outperform. $18 price target. Company completed its financing and should enjoy favorable trends in the generic business.
upgraded at Bear from Underperform to Peer Perform. Company posted a strong quarter. Estimates also raised, and the risk/reward looks more balanced at current levels.
downgraded at JP Morgan from Overweight to Neutral. Stock is approaching fair value, and lacks major potential near-term catalysts. Prefer PCL at current levels.
upgraded at Citigroup to Buy. Recent 14% correction in the shares offers a good entry point. $30 price target. Company is one of the best plays on secular growth of Internet advertising.
upgraded at Merrill from Neutral to Buy. $90 price target. Investors are essentially receiving the cellulose fiber and wood products businesses for free at current levels.
STOCK COMMENTS / EPS CHANGES
estimates lowered at UBS. FY 2008 eps estimates drop to $1.10 from $1.24 while price target holds at $25. Reiterates Buy rating.