NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Cavium Networks (CAVM) upgraded at JMP Securities. CAVM upgraded to Outperform from Market Perform.
Camelot Information Systems (CIS) initiated at Barclays with an Overweight rating and $19 price target. CIS story is a play on the secular growth of the Asian IT consulting/ outsourcing market.
CSG Systems (CSGS) upgraded at Oppenheimer to Outperform from Perform on valuation. High visibility into significant recurring revenues. $17 price target.Intel (INTC) downgraded at Charter Equity to Market Perform from Buy. INTC's downward revision of 3Q10 revenue and margins on weakness in consumer PCs confirms the negative sentiment that has dogged the stock all summer. Sanofi-Aventis (SNY) upgraded at Societe Generale. SNY upgraded to Buy from Hold. Texas Instruments (TXN) downgraded at Susquehanna to Neutral from Positive.
STOCK COMMENTS / EPS CHANGESCliffs Natural Resources (CLF) estimates raised at Citi. CLF 2010 and 2011 EPS estimates increased to $8.60 and $10.15, respectively. Raising iron ore forecasts and incorporating INR purchase. Reiterate Buy rating and $87 price target. Cree (CREE) estimate raised at BofA/Merrill. CREE 2012 EPS estimate increased by a penny to $3.21 on stronger XLamp sales. Maintain Buy rating. Kinross Gold (KGC) price target lower at BofA/Merrill. KGC price target cut to $24 from $25. If approved, merger with Red Back Mining would vault Kinross to a top six gold company on a global basis. Maintain But rating. T. Rowe Price Group (TROW) price target higher at Credit Suisse. TROW price target raised a dollar to $56. Flows may decline closer to peers, while long-term flow opportunities strong. Maintain Outperform rating.
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