CHANGE IN RATINGS
American Eagle Outfitters (AEO Quote - Cramer on AEO - Stock Picks) downgraded at Oppenheimer:
AEO was downgraded to Perform from Outperform removing their $20 price target, Oppenheimer said. Downgrade is based upon president Merchant McGalla's surprise departure in 1/09. In addition, recent checks show significant markdowns which could reduce margins and induce EPS risk.
Brinker (EAT Quote - Cramer on EAT - Stock Picks) upgraded at Goldman Sachs:
Goldman said it is upgrading EAT to Neutral from Sell, based on expected free cash flow improvements. Note ongoing weakness in bar and grill restaurants, and believe cash flow will become an increasingly important metric for the sector. Price target raised to $22 from $19.
Forest Oil (FST Quote - Cramer on FST - Stock Picks) upgraded at Deutsche:
FST was upgraded from Hold to Buy, Deutsche Bank said. $88 price target. Company has reduced its asset intensity and will continue to benefit from rising energy prices.
Novell (NOVL Quote - Cramer on NOVL - Stock Picks) upgraded at Jefferies:
NOVL upgraded at Jefferies. Rating raised to Buy from Hold. 2008 EPS estimates lowered to $0.24 from $0.25. Maintains $7.50 price target.
NuVasive (NUVA Quote - Cramer on NUVA - Stock Picks) raised to Overweight at Thomas Weisel:
NUVA has a well rounded and growing product line as well as a very large sales force. Their market penetration is still fairly low, and there is much room for expansion leaving the company's best days ahead.
Tim Hortons (THI Quote - Cramer on THI - Stock Picks) downgraded at Goldman Sachs:
Goldman said it is downgrading THI to Sell from Neutral based on lack of catalysts. See no reason for premium multiple unless company develops more visible path to U.S. profitability. Also note potential for margin weakness in rising cost environment.
TSC Staff
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