Friday's Analysts' Upgrades, Downgrades
Change in Ratings
Abbott Labs
(ABT) - Get Report
Initiated at UBS with a buy rating. 2008 EPS estimates at $3.25. Price target is set to $61.
American Superconductor
(AMSC) - Get Report
downgraded at Jefferies to hold from buy. 2008 EPS estimates raised to -24 cents from -33 cents. Price target raised to $35 from $33.
Burger King
(BKC)
added to buy list at Goldman, replacing
McDonald's
(MCD) - Get Report
. Near-term, see more catalysts at BKC, including the lifting of overhang and investors refocusing on strong operations.
DRS Technologies
( DRS) downgraded at UBS to neutral from buy. 2008 EPS estimates maintained at $3.30. Price target raised to $75 from $66.
Goodrich Petroleum
(GDP) - Get Report
downgraded at Suntrust from neutral to reduce with a $30 price target. Valuation call, following the strong first-quarter results.
Georgia Gulf
(GGC)
downgraded at UBS to neutral from buy. 2008 EPS estimates lowered to -$2.10 from 50 cents. Price target lowered to $4.50 from $10.00.
Sovereign Bancorp
( SOV) upgraded at KBW to market perform. $1 billion to $2 billion capital raise appears to be in the works. $7 price target.
Teco Energy
(TE)
upgraded at Citigroup from hold to buy with a $21.50 price target. Estimates also raised, given the company's leverage to rising coal prices.
Valero
(VLO) - Get Report
removed from Goldman's Conviction Buy List due to near-term headwinds. Recent pullback also triggered stop-loss rule. See shares cheap valuation but note exposure to widening light-heavy crude spreads. Price target at $60.
Stock Comments/EPS Changes
Aecom Technology
(ACM) - Get Report
numbers raised at UBS. 2008 EPS estimates raised to $1.36 from $1.28. Price target raised to $34 from $31. Maintains buy rating.
AIG
(AIG) - Get Report
estimates lowered at UB to $3.25 from $3.60. Maintains neutral rating and $46 price target.
Activision
(ATVI) - Get Report
numbers raised at UBS. Fiscal 2009 EPS estimates raised at $1.31 from $1.09. Price target raised to $34 from $33. Maintains buy rating.
Cognizant
(CTSH) - Get Report
2008 EPS estimates raised at UBS to $1.50 from $1.47. Maintains buy rating and $41 price target.
El Paso
( EP) numbers raised at Morgan Stanley. Shares of EP now seen reaching $24. Estimates also raised, to reflect the company's leverage to rising natural gas prices. Overweight rating.
Kaiser Aluminum
(KALU) - Get Report
numbers lowered at UBS. 2008 EPS estimates lowered to $4.80 from $5.20. Price target lowered to $88 from $96. Maintains buy rating.
Koppers Holdings
(KOP) - Get Report
price target raised at Jefferies to $49 from $47. Maintains hold rating and 2008 EPS estimates of $3.40.
Perini
( PCR) numbers raised at UBS. 2008 EPS estimates raised to $3.75 from $3.65. Price target raised to $44 from $43. Maintains neutral rating.
URS
(URS)
numbers raised at UBS. 2008 EPS estimates raised to $2.80 from $2.75. Price target raised to $46 from $42. Maintains neutral rating.
Wilbros Group
(WG)
numbers raised at UBS. 2008 EPS estimates raised to $1.95 from $1.90. Price target increased to $46 from $42. Maintains buy rating.
This article was written by a staff member of TheStreet.com.