Change in Ratings
Entergy(ETR Quote) upgraded at UBS to buy rating from neutral. Price target and fiscal-year 2008 EPS estimates hold at $125 and $6.70, respectively. GOL Linhas(GOL Quote) downgraded at Goldman Sachs to sell due to higher execution risk in absorbing/relaunching VARIG international flights. See continued difficulties in Brazil as domestic capacity expansion outpaces demand. Price target cut to $19 from $32. Graftech International(GTI Quote) downgraded at Oppenheimer from outperform to perform. Company posted a strong quarter, but lacks further potential catalysts. Omnicare(OCR Quote) downgraded at Bear from outperform to peer perform. Earnings have likely not bottomed yet, as 2008 expectations are mostly dependent on the second half of the year. RH Donnelley(RHD Quote) downgraded at Deutsche from hold to sell with a $5 price target. Company is losing managers and cut its dividend. A major debt restructuring is also likely. West Pharmaceuticals(WST Quote) downgraded at UBS to neutral rating from buy. Price target and fiscal-year 2008 EPS estimates hold at $45 and $2.48, respectively.Stock Comments/EPS Changes
Cablevision(CVC Quote) estimates raised at Deutsche Bank by 2 cents to 62 cents a share following better-than-expected fourth-quarter results. Maintained buy rating. DTS(DTSI Quote) estimates cut at Deutsche Bank by 8 cents to 55 cents a share to reflect below-consensus guidance. Maintained buy rating. Eaton(ETN Quote) price target higher at Goldman to $89 from $83 after management reaffirmed positive outlook. See share gains and strong end-market diversity but remain concerned about slower global growth and downturn in U.S. construction. Maintained neutral rating. FTI Consulting(FCN Quote) estimates raised at Deutsche Bank by 20 cents to $2.40 a share following solid third-quarter results. Maintained buy rating. Kohl's(KSS Quote) numbers cut at Jefferies to $45.50 from $47 and fiscal-year 2009 EPS estimates slashed to $3.14 from $3.44. Reiterates hold rating. Lehman Brothers(LEH Quote) estimates cut at Deutsche Bank by 85 cents to $6.15 a share to reflect likelihood of greater mark-to-market losses. Maintained buy rating. Omnicare(OCR Quote) numbers cut at Jefferies to $24.50 from $27.50 and fiscal-year 2008 EPS estimates slashed to $1.67 from $2.12. Reiterates hold rating. Sprint(S Quote) estimates slashed at Goldman to 26 cents from 63 cents. Sprint drew its $2.5 billion credit facility and cut its dividend to zero, showing desperation in the face of poor sales, weak margins and an overall inability to produce free cash flow. Maintained neutral rating. Sears(SHLD Quote) target raised at Goldman to $86 from $76 due to higher relative price/earnings multiples. Fourth-quarter results showed continued weakness in sales and margins. Maintained sell rating.- Loading Comments...
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