Tyson Foods (TSN) downgraded at Morgan Stanley from Equal-weight to Underweight, Morgan Stanley said. Higher grain prices could persist.
Tyson Foods downgraded at BofA/Merrill from Buy to Underperform, Bank of America/Merrill Lynch said. $16 price target. Lower demand will likely cut into margins.
Alleghany (Y) rated new Neutral at JP Morgan. Valuation call, based on a $355 price target. TRH purchase should ultimately help augment growth.
STOCK COMMENTS / EPS CHANGESAdtran (ADTN) numbers lowered at Jefferies. Shares of ADTN now seen reaching $21, Jefferies said. Estimates also lowered on wireline. deterioration. Hold rating.
Adtran estimates, target reduced at Credit Suisse. Shares of ADTN now seen reaching $22, according to Credit Suisse. Estimates also cut, given the company's cautious outlook. Neutral rating.Adtran numbers cut at UBS. Shares of ADTN now seen reaching $28, UBS said. Estimates also lowered on lower than expected results and guidance. Buy rating. Broadcom (BRCM) numbers lowered at Oppeneheimer. Shares of BRCM now seen reaching $45, Oppenheimer said. Estimates also lowered on uncertain macro. Outperform rating. Chevron (CVX) estimates reduced at Morgan Stanley through 2014, Morgan Stanley said. Company is seeing slower international production growth. Overweight rating and $126 price target. KLA-Tencor (KLAC) added to Top Picks Live! at Citigroup. Foundry orders will rebound sooner in 2H12 than NAND in 1H13. Marvell Technology (MRVL) estimates lowered at JMP through 2013, JMP Securities said. Disk drive and wireless handset businesses appear to be tracking below plan. Market Perform rating. Noble Energy (NBL) numbers cut at Guggenheim. Shares of NBL now seen reaching $117, according to Guggenheim. Estimates also reduced, given higher exploration costs. Buy rating. Northern Technologies International (NTIC) target cut at Craig Hallum to $18. Rate of uptake in oil and gas products is slow. Buy rating. NYSE Euronext (NYX) numbers cut at Credit Suisse. NYX estimates were reduced through 2014, Credit Suisse said. Company is realizing lower volumes. Neutral rating and new $28.50 price target. Constellation Brands (STZ) target raised at UBS to $35, UBS said. DOJ concerns proactively addressed. Buy rating. Texas Instruments (TXN) numbers lowered at Oppenheimer. Shares of TXN now seen reaching $35, Oppenheimer said. Estimates also lowered on macro slowdown. Outperform rating. Yum Brands (YUM) target cut at Morgan Stanley to $75, according to Morgan Stanley. Company will likely see lower sales in China. Overweight rating. >To submit a news tip, email: firstname.lastname@example.org.
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