Analysts' Upgrades, Downgrades: Intuit
08/22/08 - 08:48 AM EDT
TSC Staff
Change in Ratings
Advance Auto Parts (AAP Quote - Cramer on AAP - Stock Picks) initiated at UBS with a Hold rating and $36 price target. Introduces 2008 EPS estimates of $2.71. Autozone (AZO Quote - Cramer on AZO - Stock Picks) initiated at UBS with a Neutral rating and $140 price target. Introduces 2008 EPS estimates of $10.02. Burger King (BKC Quote - Cramer on BKC - Stock Picks) downgraded at UBS to Hold from Buy. Fiscal 2009 EPS estimates lowered to $1.58 from $1.62. Price target lowered to $28 from $35. Chico's FAS (CHS Quote - Cramer on CHS - Stock Picks) upgraded at Goldman to Neutral from Sell. Expects continued disappointments on earnings but sees less downside following 23% selloff in the stock since initiation. Las Vegas Sands (LVS Quote - Cramer on LVS - Stock Picks) downgraded at BofA to Sell. Stock still trades at a premium valuation even after its recent selloff. The company also faces funding needs across its entire business. Nordson (NDSN Quote - Cramer on NDSN - Stock Picks) downgraded at Keybanc from Buy to Hold. Tech orders are decelerating, which is cutting into industrial profits. Estimates also cut. O'Reilly Automotive (ORLY Quote - Cramer on ORLY - Stock Picks) initiated at UBS with a Buy rating and $38 price target. Introduces 2008 EPS estimates of $1.59. Stock Comments/EPS Changes Burger King target cut at Morgan Stanley. Shares now seen reaching $32. Lower same-store sales and higher remodeling costs could hurt near-term margins, but should reverse by early 2009. Overweight rating. Frontline (FRO Quote - Cramer on FRO - Stock Picks) numbers lowered at Jefferies. 2008 EPS estimates lowered to $7.42 from $8.10. Price target lowered to $56 from $60. Maintains Hold rating. Intuit (INTU Quote - Cramer on INTU - Stock Picks) price target raised at Jefferies to $34 from $33. Fiscal 2009 EPS estimates lowered to $1.89 from $1.93. Maintains Buy rating. Credit Suisse said it is raising its target price on Intuit to $40 from $35. Believes company deserves premium to the market based on its defensive business model. Maintained Outperform rating.
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