Change in Ratings
Research in Motion
(RIMM) added to Goldman's conviction buy list based on valuation, a stronger dollar and attractive pipeline. Sees 44% upside to its 12-month target of $68, based on 19x P/E.
(SJM - Get Report) upgraded at Merrill from Underperform to Buy. $48 price target. Estimates also raised to reflect stronger expected volume and lower commodity costs.
(SUN - Get Report) downgraded at Deutsche Bank from Hold to Sell. Valuation call, based on lower expected demand and oil prices.
(UTHR - Get Report)
upgraded at Piper Jaffray to Neutral from Sell. Says near-term risk is limited following sell-off. Lowered target price to $60 from $71.
Stock Comments/EPS Changes
(MDT - Get Report)
target cut at Credit Suisse to $37 from $49 based on low visibility following Q2 results. Maintained Neutral rating.
St. Jude Medical
(STJ - Get Report)
target lowered at Credit Suisse to $31 from $38. Says 2009 is likely to be very challenging and foreign exchange is a big headwind. Maintained Neutral rating.