Hewlett-Packard (HPQ) was downgraded at Goldman Sachs to sell from neutral. Earnings expectations should fall, Goldman said. $16 price target.
Linear Technology (LLTC) was downgraded to hold from buy, Stifel Nicolaus said. Checks show slower order growth, Stifel Nicolaus said.
Morgan Stanley (MS) was downgraded at Credit Suisse to neutral from outperform. Valuation call, Credit Suisse said.
Rackspace Hosting (RAX) was downgraded at Wells Fargo to market perform. Impacting the company is cloud computing, which is somewhat cannibalizing managed hosting growth, as are reduced bandwith prices, Wells Fargo said. Valuation range is now $47 to $52.Charles Schwab (SCHW) was downgraded at Credit Suisse to neutral from outperform. Don't expect more earnings expansion in the capital markets space, Credit Suisse said. Suntrust Banks (STI) was downgraded at Credit Suisse to neutral from outperform. Estimates were also cut, given a slower recovery, Credit Suisse said. Texas Instruments (TXN) was downgraded at Stifel Nicolaus to hold from buy. Orders appears to have slowed down, Stifel Nicolaus said. World Acceptance (WRLD) was downgraded at FBR Capital Markets to market perform from outperform. Valuation call, FBR Capital Markets said. Exxon Mobil (XOM) was downgraded at Oppenheimer to perform from outperform. Company lacks near-term catalysts, Oppenheimer said. Yahoo! (YHOO) was initiated with a buy rating at UBS. Potential monetization of its Asian Internet holdings drive the rating, the core business is viewed as having a fair value, UBS said. Price target is $27. STOCK COMMENTS/EPS CHANGES Apple (AAPL) was cut from the Conviction Buy List at Goldman Sachs. New products are not driving continued growth, Goldman said. $575 price target. Actavis (ACT) estimates, target were boosted at Morgan Stanley. Shares are now seen reaching $101. Estimates were also increased, following the generic Pulmicort settlement, Morgan Stanley said. Overweight rating. Amgen (AMGN) price target was raised at Oppenheimer. Shares are now seen reaching $100. Industry valuations are rising, Oppenheimer said. Perform rating. Biogen (BIIB) price target and estimates were increased at Bernstein. Estimates were increased to account for a higher-than-expected price for recently approved Tecfidera, said Bernstein. Price target was increased to $201. Sandisk (SNDK) estimates, price target were increased at Nomura. Estimates were raised through 2014. Company is seeing higher demand and is leveraged to a weaker yen, Nomura said. Buy rating and new $60 price target. WisdomTree (WETF) price target and estimates were raised at Citigroup to reflect higher AUM and lower franchise risk. New price target is $13.50. U.S. Steel (X) price target and estimates were cut at Bank of America/Merrill Lynch. Estimates were reduced to reflect a greater margin squeeze as iron ore prices fall and costs remain fixed, said Bank of America/Merrill Lynch. Price target was reduced to $14. >To submit a news tip, email: firstname.lastname@example.org.
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