Analysts' Upgrades, Downgrades: Monsanto
09/03/08 - 08:45 AM EDT
TSC Staff
Change in Ratings
Baxter (BAX Quote - Cramer on BAX - Stock Picks) initiated at UBS with a Buy rating and $80 price target. Introduces 2008 EPS estimates of $3.30. ConAgra Foods (CAG Quote - Cramer on CAG - Stock Picks) downgraded at JPMorgan to Neutral from Overweight after management announced that Q1 earnings would fall short of previous guidance due to inflation and weakness in consumer-foods segment. See potential for further earnings revisions. ConAgra downgraded at Merrill from Buy to Underperform. $20 price target. Estimates also cut. Coventry Healthcare (CVH Quote - Cramer on CVH - Stock Picks) rated new Outperform at Credit Suisse. Believes commercial pricing environment should improve next year while Medicare business will recover from 2008 growing pains. Sets $42 target price. Linear Technology (LLTC Quote - Cramer on LLTC - Stock Picks) downgraded at Goldman Sachs to Neutral from Buy based on limited upside. See risk to December quarter earnings estimates due to tight inventory management and seasonal weakness in industrial segment. Price target trimmed to $38 from $40. Allscripts (MDRX Quote - Cramer on MDRX - Stock Picks) downgraded at Piper Jaffray to Neutral from Buy based on valuation and customer concerns over Misys merger. Maintained positive view of long-term position, but see integration risks as a significant near-term risk. Price target lowered to $15 from $18. Medicis Pharmaceuticals (MRX Quote - Cramer on MRX - Stock Picks) downgraded at Credit Suisse to Neutral from Outperform based on generic competition and impact of slowing economy. Lowered target price to $25 from $30. Public Storage (PSA Quote - Cramer on PSA - Stock Picks) initiated at UBS with a Neutral rating and $91 price target. Introduces 2008 EPS estimates of $5.01. Radioshack (RSH Quote - Cramer on RSH - Stock Picks) initiated at UBS with a Neutral rating and $20 price target. Introduces 2008 EPS estimates of $1.73.
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