Analysts' Upgrades, Downgrades: Sepracor
CHANGE IN RATINGSBorg Warner (BWA) downgraded at Barclays from Overweight to Equal-weight. Valuation call, based on a $27 price target. Stock is trading at a record high premium to the S&P 500.
Canadian National Railway (CNI) upgraded at JPMorgan to Overweight from Neutral based on cost reductions and leverage to potential improvement in North American economy. Expect near-term earnings to hold up well and note limited exposure to coal and U.S. legislation risks. Price target raised to $50 from $43.
Norfolk Southern (NSC) downgraded at JPMorgan to Neutral from Overweight. Expect volume and earnings to lag the rest of the rail group due to weakening coal volumes. Also note potential rate structure declines linked to new rail legislation. Price target trimmed to $41 from $45.
STOCK COMMENTS / EPS CHANGESApache (APA) estimates, target increased at UBS to $100. Estimates raised because of stronger production rates and lower costs. Buy rating. Celgene (CELG) estimates, target cut at UBS to $64. Estimates reduced because of the weaker economy and reimbursement issues. Buy rating.
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