Charles Schwab (SCHW) downgraded at Wells from Outperform to Market Perform, Wells Fargo said. Company lacks near-term catalysts.
Southern Company (SO) downgraded at JP Morgan from Neutral to Underweight, JP Morgan said. Smaller utilities offer better values at current levels.
Safeway (SWY) upgraded at Jefferies to Buy from Hold, Jefferies said. $25 price target. Improving employment, especially in all-important California market.
Ultra Petroleum (UPL) downgraded at Stifel from Buy to Hold, Stifel Nicolaus said. Company will be hurt by lower natural gas prices.United Parcel (UPS) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $82 price target. Company is facing slower volumes and cost pressures. URS (URS) rated new Buy at Lazard. $48 price target. Company should post solid earnings in 2012. VMware (VMW) downgraded at Citigroup from Neutral to Sell, Citigroup said. $80 price target. Incremental concern about slowdown in core server business. Wisconsin Energy (WEC) downgraded at Baird from Outperform to Neutral, Robert Baird said. Valuation call, based on a $35 price target. Williams Sonoma (WSM) downgraded at Wedbush from Outperform to Neutral, Wedbush said. $35 price target. Promotions on national brands are not likely to go away. Xcel Energy (XEL) downgraded at Baird from Outperform to Neutral, Robert Baird said. $27 price target. Company faces increased regulatory risk.
STOCK COMMENTS / EPS CHANGESAmerisourceBergen (ABC) estimates, target lowered at UBS. Shares of ABC now seen reaching $44, according to UBS. Estimates also lowered on Medco distribution contract. Buy rating. AGCO (AGCO) target raised at Jefferies to $60. Lean manufacturing beginning to yield margin improvements. Buy rating. Yamana Gold (AUY) numbers boosted at Credit Suisse. Shares of AUY now seen reaching $20, according to Credit Suisse. Estimates also upped, given higher expected production growth. Outperform rating. Blackstone Group (BX) numbers raised at Jefferies. Shares of BX now seen reaching $18, Jefferies said. Estimates also raised as marks set to improve. Buy rating. CONSOL Energy (CNX) numbers cut at UBS. Shares of CNX now seen reaching $78, according to UBS. Estimates also lowered on lowered natural gas forecast. Buy rating. Covance (CVD) estimates, target lowered at Citigroup. Shares of CVD now seen reaching $55, according to Citigroup. Estimates also lowered on headwinds and IT spending. Buy rating.
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