Thursday's Analysts' Upgrades and Downgrades
CHANGE IN RATINGSApplied Biosystems (ABI) 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.
CNZ Financial (CNA) 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.
Merrill Lynch (MER) 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.
Mylan (MYL) upgraded at Bernstein from Market Perform to Outperform. $18 price target. Company completed its financing and should enjoy favorable trends in the generic business.Network Appliance (NTAP) 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. Rayonier (RYN) 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. Valueclick (VCLK) 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. Weyerhaeuser (WY) 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 CHANGESApplied Materials (AMAT) estimates lowered at UBS. FY 2008 eps estimates drop to $1.10 from $1.24 while price target holds at $25. Reiterates Buy rating.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV