Analysts' Upgrades, Downgrades

See who made what calls.
By TheStreet Ratings Staff ,

Change in Ratings

Archer-Daniels

(ADM) - Get Report

downgraded at Merrill from buy to neutral. Estimates also raised, though negative ethanol sentiment could hang over the stock for the time being.

Blackstone

(BX) - Get Report

downgraded at Merrill from buy to neutral. Estimates also cut, to reflect negative private-equity return and lower advisory revenue.

CBS

(CBS) - Get Report

upgraded at Citigroup from sell to hold, with a $23 price target. Remain cautious on the national advertising outlook, but the dividend yield helps to limit downside potential.

CBS downgraded at Wachovia to market perform. Challenging advertising environment and acquisition growth strategy leave the company with limited near-term upside potential.

Genesee & Wyoming

(GWR) - Get Report

downgraded at Merrill from neutral to sell. Valuation call, with the stock trading at a 70% premium to its historical average valuation. Estimates also cut, as the company is being hurt by fuel costs.

Lear

(LEA) - Get Report

downgraded at Citigroup from buy to hold with a $34 price target. Stock has outperformed the

S&P 500

by 19% year to date, and estimates are being cut to reflect lower North American light-truck demand.

Rock-Tenn

(RKT) - Get Report

added to JPMorgan Focus List with a $43 price target. See attractive entry point considering strong results at Southern Container and improving free cash flow in second half of 2008. Maintained overweight rating.

Sohu

(SOHU) - Get Report

downgraded at Oppenheimer to perform rating from outperform. Price target holds at $73 while fiscal year 2008 EPS estimates rise to $2.47 from $2.12.

Savvis

( SVVS) downgraded at Jefferies to hold rating from buy. Price target slashed to $20 from $30 and fiscal year 2008 EPS drops to minus 42 cents from break even.

Savvis downgraded at Goldman Sachs to neutral from buy based on continuing capital intensity and longer sales cycle. Note that customers have been reluctant to move beyond basic collocation. Price target cut to $18 from $28.

Under Armour

(UA) - Get Report

downgraded at Citi to hold from buy. Sees further margin pressure from higher markdowns and potential earnings risk as guidance remains back half-loaded. Lowered target to $38 from $65.

Valero

(VLO) - Get Report

downgraded at Credit Suisse to neutral from outperform. Cites U.S. gasoline market remaining difficult and prospects for a recovery in margins are fading. Lowered target price to $45 from $58.

MEMC Electronic Materials

(WFR)

downgraded at JPMorgan to neutral from overweight based on high expectations and aggressive capacity expansion in coming quarters. See company-specific risk tied to potential production issues and low inventories. Also note ASP erosion, indicating less favorable supply environment.

VCA Antech

(WOOF) - Get Report

taken off Focus List at JPMorgan based on price action. Stock did not reach $46 target in specified time period needed to remain on list. Investment thesis remains unchanged, as WOOF still offers low-risk, high-growth profile. See potential for stronger lab growth rates and margin expansion. Maintained overweight rating.

Stock Comments/EPS Changes

AGCO

(AG) - Get Report

price target raised at Goldman to $71 from $67 based on stronger volume trends in EAME and Asia and higher incrementals in South America. Note that management's guidance appears conservative. Maintained neutral rating.

Mastercard

(MA) - Get Report

target increased at Goldman raised to $300 from $270. First-quarter results easily beat estimates, highlighted by stronger pricing power and GDV growth. See international volumes and currency benefits offsetting modestly weakening U.S. consumer results. Maintained neutral rating.

U.S Steel

(X) - Get Report

estimates raised at Goldman to $15.90 from $14.80, based on higher selling prices in domestic flat rolled and tubular operations. Price target raised to $173 from $150 and maintained buy rating.

This article was written by a staff member of TheStreet.com Ratings.

Loading ...