(TAM) was downgraded at UBS to neutral from buy. Based on valuation, said UBS. Price target goes to $24, UBS said.
(USTR) was downgraded at Wunderlich to hold from buy. $42 price target. Gross margin may be peaking, Wunderlich said.
(VCLK) was downgraded at Needham to hold from buy. Media revenue growth is slowing down, Needham said.
was downgraded at Leerink Swann to market perform from outperform. Price target is $34. Benefits of the new pipeline have been priced into the stock, Leerink Swann said.
was downgraded to hold at TheStreet Ratings.
Stock Comments / EPS Changes
numbers were raised at UBS. Estimates were increased given cost reductions, said UBS. Price target goes to $17.50.
Automatic Data Processing
price target was raised at Citigroup to $73. Reflects valuation being rolled forward and higher market multiples, said Citigroup.
numbers were raised at UBS. Estimates were increased on margin expansion and new leverage to the capital structure, said UBS. Price target goes to $21.
numbers were decreased at BMO Capital. Earnings estimates were decreased on the second-half 2013 operating margin headwind from foreign exchange, excess Chinese boutique inventory, and falling U.S. sales, said BMO Capital Markets. Price target was decreased to $26.
Blackstone Mortgage Trust
estimates were raised at Citigroup. Solid loan growth, said Citigroup. Price target is $27.
numbers were raised at UBS. Estimates were raised for deal amortization and increased AssuraMed contribution, said UBS. Price target goes to $58.
numbers were raised at Oppenheimer. Shares are now seen reaching $52. Estimates were also raised on the strong quarter and expected margin growth, Oppenheimer said.
numbers were cut at UBS. Estimates were reduced given increased costs, lower volumes and lower clearing revenues, said UBS. Price target goes to $83.
estimates were cut at UBS. Estimates were reduced given weakness in Latin America, said UBS. Price target is $62.
was price target raised at Citigroup to $106. Guidance was raised, and the multiple has expanded, said Citi.
numbers were raised at BMO Capital Markets. Shares are now seen reaching $61. Brand building efforts and new product innovation are helping to achieve sustainable long-term growth, BMO Capital Markets said.
numbers were reduced at BMO Capital. Earnings estimates were lowered on expected second-half 2013 softness in Asia and the Middle East, said BMO Capital Markets, Price target was decreased to $45.
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