Analysts' Upgrades, Downgrades: Lehman
08/21/08 - 09:00 AM EDT
TSC Staff
Change in Ratings
Arch Coal (ACI Quote - Cramer on ACI - Stock Picks) upgraded at UBS to Buy from Neutral. Maintains 2008 EPS estimates of $2.70 and $70 price target. Salesforce (CRM Quote - Cramer on CRM - Stock Picks) downgraded at Piper Jaffray to Neutral based on modest shortfall in deferred revenue in Q2 results. Believe 2008 revenue forecast still acheivable, but with less upside potential. Note that 2009 revenue guidance was raised. Price target at $65. Foundation Coal (FCL Quote - Cramer on FCL - Stock Picks) upgraded at UBS to Buy from Neutral. Maintains 2008 EPS estimates of $0.85 and $75 price target. Hasbro (HAS Quote - Cramer on HAS - Stock Picks) initiated at UBS with a Neutral rating and $40 price target. Introduces 2008 EPS estimates of $2.15. Mattel (MAT Quote - Cramer on MAT - Stock Picks) initiated at UBS with a Neutral rating and $22 price target. Introduces 2008 EPS estimates of $1.34. Massey Energy (MEE Quote - Cramer on MEE - Stock Picks) upgraded at UBS to Buy from Neutral. Raises 2008 EPS estimates to $3.38 from $3.36. Maintains $77 price target. Stock Comments/EPS Changes BJ's Wholesale (BJ Quote - Cramer on BJ - Stock Picks) estimates lowered at Goldman. Goldman said it is trimming its 2009 estimates on BJ's to $2.14 from $2.17 following Q2 earnings that included unexpected reversal in EBIT margin improvement. Note strong same-store sales and maintained Neutral rating. Price target at $38. IHS (IHS Quote - Cramer on IHS - Stock Picks) price target raised at Goldman to $76 from $73 based on increased confidence in growth strategy and potential for margin upside over next several years. Maintained Buy rating. Och-Ziff Capital (OZM Quote - Cramer on OZM - Stock Picks) numbers cut at Morgan Stanley. Shares now seen reaching $27. Estimates also lowered, given lower realized investment returns. Overweight rating.
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