Change in Ratings
Chico's FAS(CHS Quote - Cramer on CHS - Stock Picks) downgraded at Citi from hold to sell with a $7.00 price target. The stock has run well above the $7.00 price target leaving it vulnerable in the absence of N-T fundamental improvement.
Crane(CR Quote - Cramer on CR - Stock Picks) upgraded at Merrill from neutral to buy with a $50 price target. The company's exposure to asbestos has stabilized and has become less of a concern for investors. In addition, Crane continues to seek margin expansion by leveraging synergies and execution of the company's operational excellence program.
Jefferies Group(JEF Quote - Cramer on JEF - Stock Picks) downgraded at Merrill from neutral to sell. JEF is experiencing significant negative operating leverage as their revenue environment is deteriorating. In addition, their current cost structure makes solid profitability unlikely over the coming quarters.
Juniper Networks(JNPR Quote - Cramer on JNPR - Stock Picks) downgraded at UBS to neutral rating from buy. Price target and fiscal year 2008 EPS estimates hold at $30 and $1.01, respectively.
Marriott(MAR Quote - Cramer on MAR - Stock Picks) downgraded at Morgan Stanley to equal-weight. Expect lodging trends to deteriorate in the second half of the year, along with the overall economy. $40 price target.
Millipore(MIL Quote - Cramer on MIL - Stock Picks) downgraded at Merrill from buy to neutral. MIL's stock is up 14.5% over six weeks and is now within 5% of the previous price objective of $78. Near-term outlook is now limited, however, fundamental outlook for the company has not changed.
Netflix(NFLX Quote - Cramer on NFLX - Stock Picks) downgraded at Thomas Weisel from overweight to market weight. Downgrade is due to more marketing activity by Blockbuster and the loss of one leg of the long-term bull case for margin improvement in digital distribution.
TheStreet.com Ratings Staff
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