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Change in Ratings
Amylin (AMLN Quote) upgraded at Citigroup from Sell to Hold. $17 price target. Valuation call, as the company needs to see FDA approval of its LAR and the rejection of Novo's Iria for the stock to move higher.
Atmos Energy (ATO Quote) upgraded at Merrill to Neutral. $30 price target. Estimates also raised to reflect the company's increased regulatory outlook.
Avery Dennison (AVY Quote) downgraded at Credit Suisse to Neutral from Outperform based on weak end-market demand, FX headwinds and valuation. Lowered target price to $46 from $54.
Career Education (CECO Quote)upgraded at Morgan Stanley from Underweight to Equal-weight. $17 price target. Stock is down 22% over the past month, and pricing in poor fundamentals.
Dollar Tree (DLTR Quote) upgraded at JP Morgan from Neutral to Overweight. Company has strong sales momentum and a good balance sheet. Estimates also raised, aided by the repurchase program.
Jabil Circuit (JBL Quote) upgraded at Credit Suisse to Outperform from Neutral based on valuation and low expectations. Lowered target price to $10.50 from $17.
Coca-Cola (KO Quote) downgraded at Deutsche from Buy to Hold. $56 price target. Company will face lower volumes across the board and negative currency effects in the coming quarters.
Monsanto (MON Quote) upgraded at JP Morgan from Neutral to Overweight. Fertilizer problems have been overblown, and estimates were raised through 2008 because of higher expected Roundup profits.
Piedmont Natural Gas (PNY Quote) downgraded at Merrill to Underperform. $29 price target. Valuation call, with the stock trading at a 44% premium to its peers.
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