Change in Ratings
Adobe(ADBE Quote - Cramer on ADBE - Stock Picks) downgraded at Cowen from outperform to neutral. With their upcoming quarterly results in May, the company will have reached a peak in financial momentum and many drivers of future growth are not yet in place.
Cogent Communications(CCOL Quote - Cramer on CCOL - Stock Picks) upgraded at RBC to outperform rating from sector perform. However, their price target dips to $22 from $24 and raises their risk rating to speculative from above average.
DirecTV(DTV Quote - Cramer on DTV - Stock Picks) downgraded at Goldman Sachs to neutral from buy based on valuation following recent advance. Believe positive operational and strategic catalysts are priced into the stock, and note future difficulty gaining video share. Price target at $30.
Microchip Technology(MCHP Quote - Cramer on MCHP - Stock Picks) downgraded at Goldman Sachs to neutral from buy based on valuation. Note that stock is 36% off January lows, but now appears expensive considering limited potential for further margin expansion. Price target at $38.
Motorola(MOT Quote - Cramer on MOT - Stock Picks) downgraded at Oppenheimer from perform to underperform. MOT has not been delivering on management's guidance for their handset shipments in second quarter 2008. Also, analysis suggests continued share losses globally with most of the material losses in its core North American market.
Nvidia(NVDA Quote - Cramer on NVDA - Stock Picks) upgraded at Goldman Sachs to buy from neutral. Near-term trends, including market position in GPUs, appear better than anticipated. Note that potential competitive threat from
Intel(INTC Quote - Cramer on INTC - Stock Picks) appears more than a year away, while
AMD's(AMD Quote - Cramer on AMD - Stock Picks) position is set to deteriorate. Target raised to $30 from $23.
Schering-Plough(SGP Quote - Cramer on SGP - Stock Picks) upgraded at Goldman Sachs to buy from neutral based on attractive pipeline, with products set to contribute looking ahead to 2015. Price target raised to $24.50 from $23.
TheStreet.com Ratings Staff
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