TSC Staff
(For more recent analyst calls, visit our Analyst Upgrades/Downgrades page.)
Change in Ratings AmerisourceBergen (ABC Quote - Cramer on ABC - Stock Picks) downgraded at Morgan Stanley to Underweight. $34 price target. Shrinking U.S. end market will slow growth in the coming years. Apple (AAPL Quote - Cramer on AAPL - Stock Picks) was downgraded from Overweight to Equal-weight, Morgan Stanley said. $115 price target. PC unit growth is decelerating and the company faces difficult near-term comparisons for the iPhone. Apple was also downgraded at RBC Capital, from Outperform to Sector Perform with a $140 price target. The company is not recession-proof, and there's higher risk to the growth story. JPMorgan said it is downgrading Arch Capital (ACGL Quote - Cramer on ACGL - Stock Picks) to Neutral from Overweight based on valuation following recent strong performance. Note conservative balance sheet, attractive underwriting returns, and lack of exposure to financial institutions liability risk. Goldman Sachs said it is initiating coverage on Alberto-Culver (ACV Quote - Cramer on ACV - Stock Picks) with a Buy rating based on upside potential to earnings. Believe that consensus is underestimating potential organic sales growth and margins. Also note potential price increases (following P&G) and U.S. market share gains. Price target at $30. Aracruz Celulose (ARA Quote - Cramer on ARA - Stock Picks) was downgraded at Goldman Sachs to Sell from Neutral. Believe lack of transparency regarding recent exposure to financial derivatives creates too much risk for investors. See any further weakening of the Real increasing financial losses and negating any operational gains.
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